Crude exports from Basra eased slightly in September, but the Kurdistan Regional Government (KRG) restart of exports through the northern pipeline to Turkey boosted northern flows, enabling Iraq exports to hit 2.6mn b/d, their highest level since 1979.

The experience of the past five years gives little optimism that the latest rapprochement between Baghdad and the Kurds will last. But a first ID650bn ($550mn) tranche of the ID1bn agreed payment is being made to the KRG to enable it to reimburse oil investors. And talks on moving beyond a temporary agreement towards coming up with a mutually agreed hydrocarbon law are being headed by federal oil minister, ‘Abd al-Karim al-Laibi for Baghdad and his Kurdish counterpart, Ashti Hawrami. (CONTINUED - 581 WORDS)