- BAGHDAD: Iraq’s self-ruled northern Kurdish region says it has received the first payment from the central government for oil exported from its region.
The payments are part of an effort to resolve a dispute triggered by the Kurds’ unilateral deals with oil companies. Baghdad argues the oil is a national resource that should be under central government control.
Under a tentative deal reach last year, the central government sells the oil and transfers some of the revenue to the Kurdish government, which is responsible for paying the companies involved in production.
A statement from the Kurdish government said the first payment amounted to $243 million, which was about half of the revenues generated from exporting over five million barrels between February and March 27.
Baghdad will keep the rest.