Saturday, July 26, 2014


Iraq

Iraq Warns Turkey, Kurds Over Unauthorized Oil Exports

Baghdad is threatening measures against Turkey, Iraq's Kurdish regional government, and any foreign companies involved in exporting oil from Iraq's autonomous Kurdish area to Turkey without permission.

Oil Minister Abdul Karim Luaibi said on January 17 that the government was preparing legal action against Ankara and would blacklist any companies involved.

The warning comes amid a growing oil row between Baghdad and the Kurdish region, which is due to begin exports to Turkey this month.

Iraqi Kurdish ministers walked out of a central government cabinet session on January 15 after Iraq's 2014 budget was unveiled setting the Kurdish region's export target at 400,000 barrels per day, which they said was well above the region's current capabilities.

The budget also said Baghdad would deduct any shortfall from the 17 percent share of state revenues to which the Kurds are entitled.

Based on reporting by Reuters

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