Iraq Turmoil Threatens Billions in Oil Traders' Kurd Deals
Both sides have a mutual interest in keeping the flowing even after the change of control at the two fields, Baghdad can’t export the oil without Kurdish help. The pipeline running through the region into Turkey is the only operational export route for the oil.
The two parties will need to strike a fresh deal on how to share revenue even as political tensions run high. The traders will hope Kurdistan’s cut is enough to maintain their financial obligations.
Peter Grauer, the chairman of Bloomberg LP, is a senior independent non-executive director at Glencore.
With assistance from Julian Lee, Khalid Al-Ansary, John Deane, Elaine He, Jack Farchy and Anna Shiryaevskaya. To contact the reporter on this story: Javier Blas in London at firstname.lastname@example.org. To contact the editors responsible for this story: Will Kennedy at email@example.com Alaric Nightingale, John Deane.
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