288,305 bpd oil has been contributed by Kurdistan, says Iraq | ||
14/06/2015 | ||
Under an oil deal signed in December, the region agreed to export an average of 550,000 bpd in 2015 in return for the reinstatement of budget payments from Baghdad, which drastically reduced funding to the Kurds last year. The deal was hailed as a breakthrough that would help to increase oil exports at a time when Iraq's budget is strained by low global oil prices and the cost of funding a war against Islamic State militants. But both sides have repeatedly accused each other of violating the agreement. Baghdad says the Kurds have failed to hand over the agreed volumes. The autonomous Kurdistan region, meanwhile, says any shortfall will be made up by the end of the year as output increases. The Kurds complain they have not been paid enough, but Iraq's Prime Minister Haider al-Abadi recently said that even if they had exported as much as agreed they could not expect to receive their full share of the budget because of the oil price drop. | ||
Last Update:: 14/06/2015 | ||
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