Iraq seals oil deal with Kurdistan
The Iraqi government has resolved the longstanding oil dispute with Kurdistan, signalling a short-term increase in oil exports, while the prospect for a petroleum law, which would detail revenue and expense allocations for foreign energy companies in Iraq, such as BP, Eni and Shell, could be closer than the markets initially anticipated.
Foreign energy companies, such as Royal Dutch Shell, Eni and BP, may have more clarification on future oil production revenues and expense allocations, after Iraq's oil minister Hussein al-Shahristani confirmed that Iraq has ironed out an oil agreement with the autonomous northern region of Kurdistan.
"We reached an agreement with the Kurds that all revenues will be handed over to Iraq's State Oil Marketing Organisation (SOMO) and the Iraqi government will be responsible for paying the
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