DNO Eyes First Kurdistan Crude Shipment
Norwegian firm DNO expects its first shipment of oil from Kurdistan to be sold on the international market by the end of the year and said it was committed to its operations in the region despite the recent flare-up in violence. The firm could until recently only sell oil on the local Iraqi market, at lower prices than it would have got on the international oil market, due to a long constitutional fight between the region and Baghdad over independent oil sales. That changed earlier this month when the Kurdish Regional Government allowed oil firms to seek out international buyers. Oil revenue is a lifeline for the KRG, whose peshmerga fighters are fighting Islamic State militants.