Crude oil flows from Kurdistan could return to the market next year, after the Kurdistan regional government and the central Iraqi government in Baghdad agreed a new production sharing agreement that satisfies both sides. “Previously, the KRG signed several agreements with the federal government regarding oil exports. However, the Iraqi budget law set oil extraction and transportation costs at $6 per barrel, which became a major obstacle to oil exports,” the acting minister of natural resources for the Kurdistan semi-autonomous region…
