• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 4 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 8 days Does Toyota Know Something That We Don’t?
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days World could get rid of Putin and Russia but nobody is bold enough
  • 10 days China is using Chinese Names of Cities on their Border with Russia.
  • 11 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 11 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 11 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 10 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 5 hours Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 1 day How Far Have We Really Gotten With Alternative Energy
  • 11 days Putin and Xi Bet on the Global South
  • 11 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
Editorial Dept

Editorial Dept

More Info

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…




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News