A logo of Russian state oil firm Rosneft is seen at its office in Moscow, October 18, 2012. REUTERS/Maxim Shemetov
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Russian state oil company Rosneft has emerged with an important role in talks between Iraq's government and Iraqi Kurdistan on resuming full oil exports from the semi-autonomous region, two industry sources said.The two industry sources, who are involved in the talks, said the KRG has told Baghdad it is ready to resume full exports and transfer the funds raised to the Iraqi government on two conditions – that some oil is kept for local refining and Baghdad pays pumping tariffs to Rosneft.The Russian oil major took over ownership of the region's export oil and gas pipelines last year and agreed to provide it with over $2 billion in loans, but the deal is not recognized by Baghdad, which says independent Kurdish oil exports are illegal.The federal government says it stopped the transfer of funds after Iraqi Kurdistan began independent oil exports which Baghdad says are illegal.Before the independence referendum last September, Iraqi Kurdistan was hoping to raise oil exports above 1 million barrels per day from around 600,000 bpd, becoming one of the world's fastest growing oil regions.
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