The Iraqi government has agreed on most Kurdish demands including returning USD 482 million to Kurdistan, increasing the region's stake in the national electricity network and holding a series of talks on the issue of oil investments, a Kurdish official said Sunday.

The minister of works and construction in Kurdistan Emad Ahmed told reporters that following talks with a Kurdish delegation, the Iraqi government has agreed to return to the regional government the amount of USD 482 million, which was earned from differences of oil selling prices in international markets.

In regards to the extreme power shortage in Kurdistan, Ahmed said the delegation met with Iraqi deputy premier Barham Saleh and the two sides agreed to increase the region's stake in the country's electricity network and to provide skilled engineers to supervise power stations.

Ahmed said the delegation would hold a series of talks with the Iraqi oil ministry and the central bank to place a new law on oil that would fulfill the demands of the Kurds regarding the crucial oil investment issue.

The oil issue has triggered disputes between Iraq's central and Kurdish governments where the former insists on controlling natural and mineral resources while the latter demands that resources in its territories remain under its control according to the Iraqi constitution.