IRAQ

It’s been a good week for foreign oil operators in Iraqi Kurdistan. A deal between Baghdad and the KRG will ensure at least

250,000 b/d of exports to be marketed by the federal authorities and the restoration of Erbil’s full 17% entitlement of the federal budget. With the first payments to the foreign companies already disbursed by Erbil out of its own funds, a new discovery announced by US firm Marathon is icing on the cake.

Marathon on 1 December said it had discovered...