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Iraq halts oil exports to S.Korea over Kurd deal

By Agencies


Iraq has halted crude exports to South Korea's SK Energy in protest of an oil deal between Korean companies and the Kurdistan regional government, an Iraqi oil ministry source said on Monday.

Baghdad suspended a contract to export 90,000 barrels per day (bpd) to SK Energy on January 1 and has given SK Energy until January 31 to back out of the deal if it wants exports to resume, the source said.

"If they disassociate themselves from the deal then it will be fine," he said. "But otherwise they are not going to receive a drop of oil."

Baghdad has warned other customers that they must cancel deals with the Kurdish region, he added. He declined to say which customers had been warned. (Reuters)