Cabinet OK’s KRG payments
Statement from government doesn't disclose numbers, but says Finance Ministry to start audit of companies to determine payments.
Oil seeps from the ground outside the village of Tawke, in Iraq's Kurdistan region. The Tawke oil field is ready to export when an agreement is reached on contractor payments between the regional and central governments. (BEN LANDO/Iraq Oil Report)
BAGHDAD - The Iraqi Council of Ministers took a step towards restarting Kurdish oil exports on Tuesday, approving a plan drafted by the oil ministries of Baghdad and Erbil.
The deal was crafted in a technocrat meeting in Erbil, the Kurdistan Regional Government's capital, last month. Under its terms, contractors would begin to receive payments for past costs associated with two oil fields, which would then begin to export again.
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