Iraq rescinds Kurdish oil export deal

BAGHDAD, Dec. 4 (UPI) -- Iraqi Oil Ministry officials said Thursday an agreement to allow Kurds to export oil was rescinded due to disagreements over royalties and future contracts.

The agreement between Oil Minister Hussain al-Shahristani and Kurdish Region Prime Minister Nejervan Barzani fell apart on Kurdish demands to write future oil deals and over the collection of royalties, Azzaman News reported.

The government refused both requests. Shahristani also said previous contracts written by Kurds must be rescinded.

But, in a press conference, Barzani insisted previous deals written by Kurds would not be withdrawn. He said Kurds were determined to export their oil

Currently, the Kurds collect 17 percent of the foreign revenue from Iraq's oil exports, the news site said.