Iraq seals oil deal with Kurdistan

Hand shake

Foreign energy companies, such as Royal Dutch Shell, Eni and BP, may have more clarification on future oil production revenues and expense allocations, after Iraq's oil minister Hussein al-Shahristani confirmed that Iraq has ironed out an oil agreement with the autonomous northern region of Kurdistan.

"We reached an agreement with the Kurds that all revenues will be handed over to Iraq's State Oil Marketing Organisation (SOMO) and the Iraqi government will be responsible for paying the

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