• 3 minutes Could Venezuela become a net oil importer?
  • 7 minutes Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 12 minutes Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 19 hours Oil prices going Up? NO!
  • 3 hours Reuters: OPEC Ministers Agree In Principle On 1 Million Barrels Per Day Nominal Output Increase
  • 10 hours Renewables to generate 50% of worldwide electricity by 2050 (BNEF report)
  • 48 mins The Tony Seba report
  • 6 hours Kenya Eyes 200+ Oil Wells
  • 6 hours Are Electric Vehicles Really Better For The Environment?
  • 13 mins LNG Shortage on the Way
  • 1 day Oil prices going down
  • 2 days Could oil demand collapse rapidly? Yup, sure could.
  • 1 day China’s Plastic Waste Ban Will Leave 111 Million Tons of Trash With Nowhere To Go
  • 15 hours Saudi Arabia turns to solar
  • 2 days Russia's Energy Minister says Oil Prices Balanced at $75, so Wants to Increase OPEC + Russia Oil by 1.5 mbpd
  • 1 day Battle for Oil Port: East Libya Forces In Full Control At Ras Lanuf
  • 3 hours Could Venezuela become a net oil importer?
  • 6 hours OPEC soap opera daily update
  • 1 day Tesla Closing a Dozen Solar Facilities in Nine States
Alt Text

The OPEC Agreement Puts A Floor Under Oil Prices

OPEC’s agreement to raise production…

Alt Text

Can Saudi Arabia Prevent The Next Oil Shock?

Oil markets reacted in a…

Editorial Dept

Editorial Dept

More Info

Trending Discussions

Global Energy Advisory – 6th March 2015

Politics, Geopolitics & Conflict

Anxious Times For Kurdistan Producers

It’s not an easy time to be a producer in Iraqi Kurdistan, where there is much promise, and a lot is coming out the ground, but no one’s getting paid yet. The December deal between the Kurds and the Iraqi central government to share oil revenues remains incredibly fragile. Baghdad claims the Kurds are pumping as much oil as they should be, while the Kurds say they haven’t been paid their share of the federal budget as promised. This means that producers aren’t getting paid, even though they’ve been pumping oil for almost a year. The Kurds can’t afford to pay them, particularly not now when most of their budget is going to secure the Kirkuk oil fields from the Islamic State (IS) and to fight back IS in the Kurdish areas of Syria. One producer, Gulf Keystone, is already giving up—selling its assets before it runs out of cash. Once again, the Kurds are threatening Baghdad that they will halt shipments to protest the lack of payment. There are nuances to this deal that will tricky to maneuver. For one thing, the Kurds are producing oil in Kirkuk, but Kirkuk is not officially part of the Kurdistan Regional Government (KRG)—it is essentially territory disputed between Erbil and Baghdad. Baghdad has only paid a small portion of the budget cash it promised the Kurds, using the argument that the Kurds aren’t pumping as much oil as they promised…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





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