Iraqi oil exports set to resume after pipeline dispute resolved.

Iraq's federal government and the Kurdistan Regional Government (KRG) are close to reaching a deal to resume northern oil exports, which were halted after Turkey lost an arbitration case brought by Baghdad. The initial agreement states that Iraq's northern oil exports will be jointly exported by Iraq's state-owned marketing company SOMO and the KRG's ministry of natural resources (MNR), with revenues deposited in an account managed by the MNR and supervised by Baghdad. Discussions are ongoing to resolve other issues, including contracts of foreign companies operating in Kurdistan and Kurdish debts. Turkey wants a second arbitration case relating to the 1973 pipeline agreement for the period from 2018 onwards to be resolved before reopening the pipeline.