Iraq Works to Resume Oil Flows to Turkey After $19 Billion Loss
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Iraq is working to iron out technical issues with the semi-autonomous Kurdistan Regional Government to restart a crude export pipeline to Turkey after an almost two-year shutdown that cost Iraq around $19 billion in lost revenue, its foreign minister said.
Iraq’s parliament significantly increased the payout for oil production earlier this month as part of efforts to resolve the dispute between Baghdad and Iraq’s semi-autonomous Kurdistan Regional Government over rights to revenue from oil sales.