SITUATION REPORT

Iraq: Kurdistan Regional Government, Baghdad Reach Tentative Oil Deal

1 MIN READNov 27, 2019 | 16:57 GMT

A delegation from the Kurdistan Regional Government has reached a tentative deal with the Iraqi government to deliver 250,000 barrels of oil per day to Iraq's State Oil Marketing Organization in exchange for 12.67 percent of Iraq's budget revenue, Rudaw reported Nov. 26....

What Happened: A delegation from the Kurdistan Regional Government has reached a tentative deal with the Iraqi government to deliver 250,000 barrels of oil per day to Iraq's State Oil Marketing Organization in exchange for 12.67 percent of Iraq's budget revenue, Rudaw reported Nov. 26.

Why It Matters: The KRG and the Iraqi government have been at an impasse over government revenue sharing for several years. However, the agreement suggests that the KRG could be pushing forward with an initial agreement while the administration of Prime Minister Adel Abdul-Mahdi is still in power.

Background: The KRG and Baghdad have long struggled to reach an agreement on federal budget funds as disagreements over the exact amount of revenue sharing prevented both sides from signing a deal.

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