Iraq/Kurdistan: First Baghdad Crude Oil Payment Reaches Iraqi Kurdistan

Nov 25, 2014 | Platts
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Baghdad has paid the $500 million agreed to in a deal with Iraq's Kurds in an effort to rekindle negotiations over revenues, Kurdistan Regional Government spokesman Safeen Dizayee told Platts Tuesday.

Dizayee said $280 million was paid on Monday and $220 is expected on Tuesday. The money goes to the Iraq Central Bank's Kurdistan branch and then to the KRG's Finance Ministry.

"The deal between Baghdad as it was explained by Iraq's Oil Minister Adil Abdulmahdi, is an initial step towards finding a common ground on oil issues," Dizayee said. "Further talks between Erbil and Baghdad will take place in the near future."