KRG oil deals buoyed by refinery plan
Kurdistan's export agreement with Baghdad is deteriorating and its production capacity is rising – so the region is relying more and more on an expanding refining sector.
The Kalak refinery, about 40 kilometers west of Kurdistan's capital city of Erbil. (BEN VAN HEUVELEN/Iraq Oil Report)
The Kurdistan region's refinery expansion plan is giving it a buffer against renewed oil export disputes with Baghdad and providing a much needed revenue stream for companies investing in oil fields.
The foreign companies operating under controversial production sharing contracts awarded by the Kurdistan Regional Government (KRG) get around $60 per barrel under a domestic sales deal, sources said.
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