Politicians are bristling at contractual terms that many investors demand to help protect them from the dysfunction of Iraq’s investment climate.

A subsea pipeline project could lift export capacity by 500,000 bpd in just over a year, but the funds can't be released until Iraq passes a new budget.

Last-minute additions to the budget bill could undermine a new framework for oil and financial cooperation needed to restart northern exports and support Kurdistan’s oil sector.

Baghdad has sent nearly $1 billion to Kurdistan since March, highlighting political cooperation that could grow into reliable financial flows with the passage of a new budget law.

Iraq is ready to restart pipeline exports and relieve financial pressure on the KRG, but Turkey’s delays are prompting speculation of political complications.