KRG halts oil exports

Kurdistan Tribune  – 21.12.2012 – The Kurdistan Regional Government (KRG) has once again halted the export of oil through the pipelines to Turkey. This is due to the ongoing dispute between Baghdad and Erbil. Baghdad was supposed to make a second round of payments of liabilities to foreign oil companies by the middle of this month. However, it has failed to do so. The KRG’s action will heighten tensions with the Iraq government. The Department of Natural Resources has as yet given no indication of when they will resume the oil exports.