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Iraqi Kurdistan sinking fast

The future of the KRI's oil sector is uncertain, with the federal government determined to bring all the country's production and exports back under its wing

With so much happening that was out of the ordinary it was a surprise to find something routine taking place. On 10 November, international oil companies operating in the Kurdish Region of Iraq (KRI) announced they had received their regular monthly payment for oil sales. So far so good. But the relief felt by those companies will be nothing compared to their anxiety about the future. The Kurdish Regional Government (KRG) paid out a total of $100m to IOCs in November. It's inconceivable that outlays of this magnitude will be possible for long. The KRG often struggled to keep up with its IOC payments, just as it had difficulty providing regular wages to civil servants and Peshmerga fighters



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