Kurdistan to Cease Oil Production until Baghdad Bears all Oil Expenses

The Ministry of Natural Resources of Kurdistan Region stated that the region would cease the oil production and export, which is assumed to be around 250000 barrels of oil a day, unless Baghdad agrees to clear payments of the foreign oil companies.

On March 9th, Saturday, Hussein Ballo, Natural Resources Ministry's Advisor, stated that Erbil will not send 250000 barrels a day to Baghdad, unless the central authority bear the expenses of foreign oil companies which are working in that region.

According to him, agreement between Erbil and Baghdad states that Federal government has to bear all expenses of the foreign oil companies, operating in the Kurdistan region, in exchange of 250000 barrels of oil per day.