Kurdistan Warns Oil Output at Risk of Collapse on Lack of Funds
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Oil producers in Iraqi Kurdistan will have to close operations if they don’t receive agreed export payments, according to the regional authorities.
“We need to stabilize the payment situation,” Ashti Hawrami, natural resources minister for the Kurdistan Regional Government, or KRG, said Tuesday in London. “We can’t keep saying to oil companies: ‘Give us one more month.’ Eventually this will collapse around us. We need more money.”