Iraq’s self-ruling Kurds agreed to let the central government in Baghdad control the amount and quality of crude they export as well as manage revenue from its sale, Iraqi Oil Minister Abdul Kareem al-Luaibi said.
Iraq’s Kurds plan to start pumping oil to Turkey next month via a pipeline controlled by the central government in Baghdad, signaling an easing of their dispute over resources, according to two people familiar with the plan.
Dana Gas PJSC, an energy producer forced to restructure debt last year, said third-quarter profit fell amid faster depreciation of assets in Egypt and as Kurdish authorities tried to sell company holdings in Iraq.
Tony Hayward, the former BP Plc chief executive officer who now heads Kurdistan’s largest oil producer, said an export pipeline to Turkey is built, marking a turning point for the self-governing region of northern Iraq.
Iraq’s government will start making payments to international oil companies working in the northern Kurdish region next week, said Ashti Hawrami, natural resources minister in the Kurdistan Regional Government.
Exxon Mobil Corp. is honoring its oil exploration contracts in the semi-autonomous Kurdistan region of northern Iraq, the Kurdish minister for natural resources said in disputing a report from Iraq’s government.
A well at DNO International ASA and Genel Energy Plc’s Tawke oilfield in northern Iraq flowed at a record rate, bolstering prospects for higher output from the region as it completes an export pipeline to Turkey.