Oil and Gas: Iraq backs down on controversial oil decision

Further to my post of Jan 30, Iraq has backed down on a controversial decision to refer Turkish companies exporting oil products to the country to Kurdish authorities for the renewal of their contracts.

Iraq's State Oil Marketing Organization (SOMO) has sent an official letter to the Turkish Undersecretariat for Foreign Trade saying that shipments of oil products from Turkey would continue on the basis of previous principles, the Anatolia news agency has reported.

Karim Vahid, acting Iraqi oil minister, has also phoned Turkish State Minister Kürşad Tuzmen, assuring him on behalf of his government that the previous principles on the import of oil products from Turkey would remain valid.

Post: 5/10