Kurdistan says nearing economic self-sufficiency on oil boom

crude-oil-pipe-702x336-436x33619 December 2014, News Wires – Iraq’s semi-autonomous region of Kurdistan will see a steady rise in oil exports in the coming months, moving it closer to economic self-sufficiency, while it is still hoping to clinch a final deal with Baghdad on oil exports and revenue sharing.

Kurdistan this month reached a limited agreement with Baghdad on oil exports after months of wrangling. The federal government had cut off Kurdistan’s budget allocation in response to the autonomous region’s decision to export oil unilaterally.

Kurdistan’s minister for natural resources Ashti Hawrami told a conference in London that despite a fresh deal, Arbil had yet to agree on other issues including the right to export oil independently and a revenue sharing mechanism.

About the Author