Oil

Iraqi Kurdistan says halts oil exports over pay dispute

Reuters News
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Posted: Apr 01, 2012 12:39 PM
Iraqi Kurdistan says halts oil exports over pay dispute

BAGHDAD (Reuters) - Iraq's autonomous Kurdistan region has halted its oil exports because it says the central government in Baghdad has failed to make payments to companies working there, the Kurdistan Regional Government said on Sunday.

In a long-running dispute, Iraq's government says only central authorities have the right to export the country's oil, but the autonomous Kurdish region in the north says it has control of oil in its area.

The KRG said last week it had reduced oil exports to 50,000 barrels per day over the payment dispute. Iraq's government says it receives on average 70,000 to 75,000 bpd from Kurdistan, but said this month it had only received around 65,000 bpd since the start of the year.

(Reporting by Patrick Markey; Editing by Greg Mahlich)