When the Iraqi army and Iranian-backed Shi‘ite militia entered a key oil processing facility in Iraq’s north to retake it from Kurdish Peshmerga forces last week, the installation was deserted and its alarm bells ringing. Now, they need passwords and expertise from their Kurdish counterparts to restore oil output fully. Major-General Soleimani, one of the most influential military figures in the Middle East, with reach in Syria and Lebanon, issued tough warnings to Kurdish leaders ahead of the Iraqi military advance. The drop in exports has deprived the region of more than $200 million in revenues over the past week, a Kurdish oil industry source familiar with loadings told Reuters. At the moment the potential split of revenues is far from clear,” said the Kurdish oil industry source.

Source: Egypt Independent October 25, 2017 15:45 UTC