When Iraqi and Kurdish officials met in Baghdad this week over a long-running dispute that has halted oil exports from Iraq's semi-autonomous region of Kurdistan, insiders said the presence of international executives underscored a new resolve.
In the room on Monday was Russell Hardy, head of the world largest oil trader Vitol, alongside executives from trading houses Petraco and Energopole, and representatives from U.S.-based producer HKN Energy and Kurdish oil company KAR Group, three sources familiar with the talks told Reuters.
An Iraqi oil ministry official with knowledge of the meeting said the aim was to reassure the companies that their deals with the Kurdistan Regional Government were secure.on Tuesday to restart northern oil exports as part of efforts to end decades of political and economic disputes. Monday's meeting between KRG and Iraqi officials, alongside the international executives, struck a similar tone, aiming to build confidence among all sides, two sources said.
Baghdad said Turkey had violated an agreement by allowing the KRG to export oil to Ceyhan without its consent, one of several points of contention between the federal government and the Kurdish authorities in Erbil, which in 2017 made a bid for independence that sparked a brief conflict. Revenues will be deposited in an account under KRG control at the Iraqi central bank, but Baghdad will have access, the sources said.
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