Iraq's Northern Kurdish Region Stops Oil Exports

Source: The Wall Street Journal 12/25/2012, Location: Middle East

An Iraqi Kurdish official said the country's self-ruled northern Kurdish region has suspended oil exports over a payment row with the central government in Baghdad.

Ali Hussein Balo, adviser to the Kurdish Ministry of Natural Resources, said Baghdad failed to fulfill its commitment to pay the full 1 trillion Iraqi dinars ($848 million) to companies working in the region. Balo said it only paid 650 billion dinars.

In April, the Kurds stopped the exports of around 100,000 barrels a day due to delays in payments. Four months later, the exports resumed. That allowed the two sides to reach a new agreement on payment.

Baghdad says the payment suspension was because the Kurds were pumping less than the 200,000 barrels a day they pledged.


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