The prime minister of Iraq ordered foreign oil firms to immediately resume operations in the Kurdistan Region. The oil corporations declined. Until they are assured protection, they will not return to their jobs. A pledge was made by the prime minister. Until that pledge has teeth, the industry won’t move.The Strait of Hormuz shipping crisis has severely reduced Iraq’s oil revenue to the point where Baghdad is now taking less money from Kurdistan than the original agreement required. Kurdistan’s cabinet is meeting on Wednesday to resolve unresolved issues with Baghdad, including oil revenue sharing, customs disputes, and how the money is divided. The parts are in motion.
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