Oil Firms Agree Deal With Iraq to Resume Kurdistan Exports

Oil companies in Iraq’s Kurdistan agreed with the federal and regional governments to resume oil exports that have been halted for more than two years, paving the way for supply into a market on the brink of a glut.

Eight companies that together account for more than 90% of the Kurdistan region’s production have reached in-principle deals, according to a statement from the group representing the firms. Shipments through a pipeline to Turkey’s Mediterranean coast should begin “in the coming days,” after the deal is formally signed and ratified, it said.