Iraq Government, Kurdistan Reach Oil Deal

December 2, 2014 1:16 PM

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Iraq's government and autonomous Kurdish regional authorities reached a formal agreement on Tuesday to end a longstanding dispute over oil exports and budget payments.

Under a deal due to take effect at the start of 2015, the two sides agreed to the export of 300,000 barrels per day (bpd) of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey, said Hoshiyar Zebari, Iraq’s finance minister.

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