Iraq’s cabinet ordered the autonomous Kurdistan Regional Government to immediately transfer its oil output to the country’s state-run firm SOMO, Reuters said.

• Local Kurdish media is reporting this as a step to restart exports of oil from the region which have been halted for nearly 20 months. Production costs had been a stumbling block in the process.
• Iraq’s cabinet approved a budget measure to compensate the KRG for production and transportation costs, setting a $16/b rate for foreign oil companies operating in Iraqi Kurdistan.
• This compares to $6/b previously, Kurdistan’s Channel 8 said.