Iraq's semi-autonomous Kurdish region agreed with Baghdad to resume oil exports at the start of February, officials said, taking the two sides closer to resolving bitter disputes over oil and land. Around 40 companies, such as Norway's DNO, have invested in Kurdistan, but revenues have been curtailed by their inability to sell oil for export, because Baghdad has deemed the contracts they signed unconstitutional.
The news of a possible resumption in exports sent shares of DNO up as much as 6 percent on Tuesday. Iraqi government spokesman Ali al-Dabbagh told Reuters on Tuesday a deal had been reached with the Kurds to resume exports on February 1, starting at 100,000 barrels per day, but issues like paying the companies were still to be resolved.
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