Kurds to resume oil exports in Iraq

Iraq's State Oil Marketing Co. has been instructed by the government to resume oil exports from the northern Kurdish region after it has agreed to the local authority's proposal on a payment method, Bloomberg has reported. The KRG last month proposed that the government pay Norway's DNO International and other producers in northern Iraq directly or for the revenue to pass through the Kurdish authorities. The region has capacity to export about 100,000 barrels of oil a day, and may start pipeline expansion work to more than double that this year.