• 4 minutes China 2019 - Orwell was 35 years out
  • 7 minutes Wonders of US Shale: US Shale Benefits: The U.S. leads global petroleum and natural gas production with record growth in 2018
  • 11 minutes Trump will capitulate on the trade war
  • 14 minutes Glory to Hong Kong
  • 13 mins Disenfranchised people are angry people - map of global electoral systems
  • 5 hours Brexit agreement
  • 5 mins Why don't the other GOP candidates get mention?
  • 8 mins PETROLEUM for humanity 
  • 2 hours Bloomberg: shale slowing. Third wave of shale coming.
  • 4 hours Yesterday Angela Merkel stopped Trump technology war on China – the moral of the story is do not eavesdrop on ladies with high ethical standards
  • 2 hours China's Blueprint For Global Power
  • 6 hours ABC of Brexit, economy wise, where to find sites, links to articles ?
  • 4 hours Spain Is On The Edge...Clashes Between Catalonia And "Madrid"
  • 8 hours Erdogan Holds All The Cards ... 3.6 Million Of Them
  • 5 hours 5 Tweets That Change The World?
  • 7 hours Philadelphia Energy Solutions seeks to permanently shut oil refinery - sources
Alt Text

China Makes A Move On OPEC's No.2

China has refocused its attention…

Alt Text

Trump’s Impossible Biofuel Dilemma

The Trump administration has been…

Irina Slav

Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry.

More Info

Premium Content

300,000 Bpd Offline As Kurdistan Conflict Continues

Crude oil flows from Kurdistan to Turkey’s port city of Ceyhan continued at rates of between 200,000 and 250,000 bpd over the weekend, versus a normal flow of between 550,000 and 600,000 bpd, sources from the shipping industry told Reuters.

Last week, Iraq’s Oil Minister Jabbar Al-Luaibi ordered state-held oil and pipeline companies to begin restoring oil flows from Kirkuk to Ceyhan via a pipeline that bypasses Kurdistan, increasing pressure on the breakaway region, but this has apparently not happened yet.

Exports of Kurdish crude began declining last week, after the Iraqi army took over the city of Kirkuk, the oil center of northern Iraq, and surrounding fields. Following the takeover, Kurdistan’s oil minister made a special plea to international oil companies to not quit Kurdish oil, which is essential for the security of the autonomous region.

“I plead with you not to forget Kurdistan. The fight [against ISIS] is over, but our fight is there forever. When we talk about investments and projects, we must bear in mind… that investment cannot flourish if there is no security,” said Ashti Hawrami at a conference in Italy last Thursday.

Also last Thursday, Iraq’s Oil Ministry issued a statement saying that it “warns seriously all the countries and oil companies from contracting or dealing with any authority inside Iraq without taking the approval from the federal government and the ministry of oil.”

Related: Why Petrol Powered Cars Aren’t Going Anywhere

The situation is complicated and likely to continue until the dust from the Kurdistan independence referendum settles. Meanwhile, commodity traders including Vitol, Trafigura, and Glencore, along with Russia’s Rosneft, have tied a total US$3.5 billion in crude-for-cash deals with the Kurdistan Regional Government.

The change in control of the oil fields around Kirkuk threatens the supply of crude to the trading firms, some of which have taken out debt to provide Erbil with the cash, for which it is supposed to pay in crude deliveries.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage



Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play