Rosneft signs landmark deal to buy KRG crude
In a sign that Kurdistan's oil sector is shedding some of its legal and political risk, KRG crude will now supply the refineries of Russia's largest oil company.
A tanker loads crude at the Turkish port of Ceyhan, May 2015. (STAFF/Iraq Oil Report)
ERBIL - Kurdistan has signed a three-year crude supply agreement with Russian state oil giant Rosneft, a milestone in the regional government's efforts to establish an independent oil sector.
"It is the first time the KRG has supplied crude directly to a major global oil refiner and reflects the growing confidence of the international oil market in KRG crude," said a KRG official with knowledge of the deal.
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