Iraqi Kurds expect Baghdad's first payment to clear next week

Reuters News
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Posted: Sep 24, 2012 5:48 AM
Iraqi Kurds expect Baghdad's first payment to clear next week

ISTANBUL (Reuters) - Iraqi Kurdistan expects an initial payment of 1 trillion dinars ($858 million) from the central government in Baghdad to clear next week after the two sides reached a deal on paying oil producers, Oil Minister Ashti Hawrami said on Monday.

The autonomous region's exports will resume in October at 200,000 barrels per day, after an agreement was reached earlier this month, and continue at that rate through the end of 2012, Hawrami told reporters at an energy conference in Istanbul.

The Kurdistan Regional Government expects to meet its 2015 target of exports of 1 million barrels per day, even if there are further disruptions, he also said. ($1 = 1165 Iraqi dinars)

(Reporting by Ayla Jean Yackley)