************** Starting the implementation of the oil agreement between Baghdad and Erbil

Thursday 20 November 2014
| 7:59

Government of Kurdistan began pumping oil to the North Oil Company tankers at Ceyhan yesterday and $ 500 million diverted yesterday

Finance Minister Hoshyar Zebari announced the start of the Kurdistan Regional Government to resume the implementation of the agreement under which Baghdad funding the salaries of government employees Kurds return for a share of the Kurdish oil exports.

The agreement aims to reduce the differences between Baghdad and the Kurdish authorities in time face a common organization of "Daash" threat.

 Under the agreement, the Kurdish authorities pledged to pump 140 thousand barrels of oil per day, or about half of the total Kurdish shipments to the central government's export tankers in the Turkish port of Ceyhan.

Baghdad has agreed to pay $ 500 million allocated to the Kurdish salaries.

Zebari said that the government of Kurdistan began pumping oil to the North Oil Company tankers in the port of Ceyhan yesterday that $ 500 million has been transferred yesterday.

 He pointed out that other payments will follow.

In addition, confirmed the Turkish Energy Minister, Taner Yildiz, that Iraqi crude oil pumping to Turkey will resume soon at a rate of 150 thousand barrels per day after a hiatus lasted eight months.

 He said that "Turkey will extend the contract that replaces him at the end of the year with Algeria to buy 4.4 billion cubic meters of liquefied natural gas annually for another ten years."



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