Kurdistan Regional Government (KRG) will continue exports of crude oil until September 15 before halting it again due to Baghdad’s unwillingness fo not make payments to the companies operating in the region’s oil fields.

The KRG has earlier warned it would stop exports of oil at the start fo September if Baghdad refused to make the disputed payments to the companies.

Kurdish sources said on Sunday that the KRG had decided to give Baghdad more time to resolve the issue.

KRG has halted shipment of its oil several times complaining that the government in Baghdad did not pay the dues of the companies working in the region.

Baghdad has Kurdistan Region has not shipped the amount of oil per day as agreed upon. Officials in Kurdistan are still waiting for the go-ahead of $560 million approved by the Iraqi government to be paid to oil producers operating in the Kurdish region in return for their investment costs to develop oilfields in the Kurdish region.

KRG has said that amount is only about one third of the actual due payments that amount of $1.5 billion.

AKnews