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Russian Gas Operator Rosneft Agrees to Buy Crude Oil from Kurdistan Regional Government

The Kurdish region started independently selling its oil for the last three years, because, as stated, that Baghdad did not pay the region's share

Kurdistan Regional Government has signed a contract with Russian operator, Rosneft to provide the country with crude oil that Rosneft will refine at its own refinery. The agreement includes joined efforts in exploration, logistics and trading. 

The contract will be in effect until 2019 while the Russian operator will pay for the oil in full up front. 
Source: Iraq TradeLink 

 

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