Turkish Foreign Trade Minister Kursad Tuzmen today said Baghdad retracted a move to make Kurdish authorities in northern Iraq the sole interlocutors for contract renewals with Turkish firms.
The Iraqi decision had infuriated Ankara. Turkey imports Iraqi oil, which it refines and sends back to Iraq by trucks.
Sharing Iraq's Oil
The pipeline from Kirkuk to Turkey is one of Iraq's main oil-export lifelines (epa file photo)
THE FUTURE OF THE ECONOMY. The uneven distribution of Iraq's oil resources has long been a source of tension among the country's ethnic and sectarian groups. Since the fall of Saddam Hussein, the tangled quest to find an equitable way to share oil revenues has been a major stumbling block on the road to national unity.