• 35 mins Uber CEO sees commercialization of flying taxis within a decade
  • 20 hours Theresa May Wants To Extend The Brexit Transition
  • 7 hours Plastic bans to dent oil demand growth-BP
  • 27 mins US admin to kill Energy Star program
  • 18 mins As Trump Trashes NAFTA, Mexico Turns To Brazilian Corn
  • 23 hours Iran To Recover War Losses By Exploiting Syria Natural Resource !?
  • 14 hours Apple in Talks to Buy Cobalt Directly From Miners
  • 15 hours German Neo-Nazis Are Trying To Infiltrate Daimler: Works Council
  • 14 hours Ideas on demand
  • 11 hours Nigeria freaking out about US "abandoning" its crude
  • 19 hours NASA Spends $1 Billion For a Launch Tower That leans, May Only be Used Once
  • 24 hours Tesla's cloud hacked, used to mine cryptocurrency
  • 14 hours Vanadium: The Next Star in Batteries?
  • 18 hours Venezuela's New Bitcoin: An Ingenious Plan or Worthless Cryptocurrency?
  • 24 hours We're worried about US shale production, while OPEC calls for $10 trillion investment to meet demand?
  • 17 hours API Inventory Data (Tuesdays)
Alt Text

Clean Oil That Only Costs $20

As the shale revolution is…

Alt Text

Oil Prices: Collapse Now, Spike Later

Oil prices fell sharply this…

Irina Slav

Irina Slav

Irina is a writer for the U.S.-based Divergente LLC consulting firm with over a decade of experience writing on the oil and gas industry.

More Info

Trending Discussions

Clashes In Kurdistan Send Oil Prices Higher

Iraqi commandos

Reports of clashes between Iraqi troops and Kurdish armed forces near Kirkuk yesterday sent WTI and Brent higher in Asian trade today. The latest reports coming in say the Iraqi army has seized a refinery in Kirkuk as well as a gas plant in the area. Exports from Kirkuk, however, are flowing normally for the time being.

At 9:10AM, WTI was trading at US$52.31 and Brent was at US$58.44, on supply worries as the Iraqi-Kurdish conflict intensifies.

After last week Kurdistan accused Baghdad of planning a takeover of the oil fields around Kirkuk and an Iraqi general confirmed there was such a plan, now media are reporting that the Iraqi forces have clashed with the Kurdish peshmerga near the oil city.

Earlier reports today based on Iraqi state television said that the Iraqi forces had taken “vast areas” around Kirkuk without opposition from the peshmerga. Still earlier reports from Friday had it that Iraqi PM Haidar al-Abadi denied there was a plan to retake Kirkuk and its oil wealth.

However, the latest news reports say it was on the PM’s orders that the Iraqi troops, along with the Iran-trained Shiite militia Popular Mobilization Forces, were deployed to northern Iraq with the purpose of taking Kirkuk and the oil fields around it.

Meanwhile, Kurdish news outlet Rudaw reports that Iran yesterday closed its border with Kurdistan, quoting a Kurdish customs official. It was unclear how long the closure will last, but for now it only concerned the three official border crossings between the autonomous region and Iran. Several semi-official ones were still open. Related: Trump Just Made Iran A Wildcard

The spike in tensions in Iraq follows an independence referendum that Erbil held in late September. With an overwhelming “Yes” vote, the autonomous region indicated that it will pursue its goal of complete independence from Baghdad despite international opposition, mostly from Iraq’ s neighbors Iran and Turkey, both home to substantial Kurdish minorities.

Kurdistan, according to its government, may hold up to 45 billion barrels of crude and pumps well over 500,000 bpd. In fact, in April this year, Rystad Energy forecast that Kurdistan will lift its daily oil production to more than 600,000 bpd this year. Exports from Kurdistan, as of August this year, averaged 570,000 bpd, according to energy data provider Kpler. A source told Bloomberg that the current oil export rate from Kurdistan was around 600,000 bpd.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News