Baghdad, Kurdistan move closer to deal over oil exports, Genel CFO says

|About: Genel Energy PLC (GEGYF)|By:, SA News Editor

The governments in Baghdad and Iraqi Kurdistan are moving closer to an agreement over sharing oil revenues from exports, according to the CFO of Kurdistan-focused Genel Energy (GEGYF).

An agreement would mark a breakthrough in a long-standing dispute between the two governments over control of the region's oil.

Without a deal, Genel may struggle to increase exports this year beyond the 70K bbl/day peak transported via road trucks to Turkey's Mediterranean port of Ceyhan, where a new and controversial pipeline linking Kurdistan to Turkey terminates.