Iraq Oil Payment Talks 'Hit Impasse'

By John Lee.

Talks aimed at resolving the oil payments dispute between the Kurdistan Regional Government (KRG) and the Iraqi Federal Government are believed to have reached deadlock.

Hopes of a resolution had been raised last week, but coalition legislator Ammar Tohme told Bloomberg that the political factions failed to agree on the amount of money that is still owed to international oil companies (IOC)s working in Kurdistan, following earlier payments made by Baghdad.

The Kurds claim the companies are owed 4.2 trillion dinars ($3.6 billion), while the central government’s accounting bureau has said the amount is $1.5 billion, according to Tohme.

(Source: upstreamonline)