Event

Middle East Online reported the Iraqi oil minister Hussein al-Shahristani saying that the Baghdad-Kurdistan oil row had ended with the Iraqi government agreeing to be responsible for paying extraction expenses in Kurdistan. All revenues would be handed over to SOMO, the Iraq's State Oil Marketing Organisation which deals with sales of crude and other petroleum-based products, and the Iraqi government will be responsible for paying the extraction expenses in Kurdistan.
 
Iraqi Kurdistan halted oil exports in October last year due to a payment dispute with Baghdad. The two sides previously clashed over how oil revenues should be distributed and Kurdish authorities had said they would not resume crude exports until Baghdad paid the foreign energy companies which are pumping the oil. The central government had repeatedly said it was opposed to the Kurds signing their own contracts, a position which Kurdish officials disregarded by making dozens of agreements with foreign firms.

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