• 4 minutes Blackouts in Australia
  • 7 minutes Big Oil Costs Can't Go Much Lower
  • 14 minutes The moves toward 'zero-manning' in oil & gas
  • 8 hours Jan's Electric bike replaces electric cars
  • 16 hours gas lines set 70 houses on fire simultaneously in Massachusetts, live now.
  • 22 hours Tesla Will Fix Its Cars In-House
  • 2 hours Funding Secured: Saudi Wealth Fund to Invest $1 Billion in Tesla's RIval Lucid to build its EV factory
  • 1 day Meeting For Better Peninsula: Kim Jong Un Will Meet Moon Jae In Pyongyang
  • 17 hours 100% Renewables will Fuel the Growth of Poverty and Homelessness
  • 1 day Coca-Cola eyes cannabis
  • 7 hours Bezos Rips Trump For ‘Dangerous’ Attacks on The Media
  • 1 hour Making Safe Nuclear Power from Thorium
  • 1 day Taller Is Better: A Race for Windmills
  • 12 hours Senate cancels postal service hearing
  • 15 hours Germany Should have Gone with Nuclear
  • 1 day Oil Higher As U.S. Iran Sanctions Raise Supply Concerns
An Energy Investor Roadmap For The Future

An Energy Investor Roadmap For The Future

With my final column after…

Oil Prices Unfazed By Growing Rig Count

Oil Prices Unfazed By Growing Rig Count

Oil prices appear to have…

Iraq And Kurdistan To Collaborate On Oil Production

Oil

Iraqi government-owned North Oil Co. and Kurdish Kar Group are cooperating on pumping the oil from two fields that halted operations following the government military action to take it over from Kurdistan Regional Government (KRG). Kurdistan forces had been there since 2014 when they ousted Islamic State militants.

The Bai Hassan and Avana oil fields near Kirkuk have been shut since October 19th, keeping at least 275,000 bpd offline. The Kirkuk-Ceyhan pipeline, operated by KAR Group, saw flows fall to 196,000 barrels a day last Thursday—down from 225,000 barrels per day the day before. Normal, non-wartime scenarios peg flow at 600,000 barrels per day.

Civilian workers at both fields were reportedly sent home following a build-up of Iraqi military forces around the sites. Oil Ministry engineers worked to replace computers and other critical equipment missing from oil fields.

Over the weekend, Iraqi authorities said they increased oil exports from the southern Basra region by 200,000 barrels per day to make up for a shortfall from the northern Kirkuk fields.

Last Tuesday, Iraq government forces completed an operation to seize control of all oil fields that Iraqi state-held North Oil Company operates in the oil-rich Kirkuk region from Kurdish forces.

The Kurdish forces, the Peshmerga, had previously held the oil fields around Kirkuk, but pulled out as the Iraqi forces advanced to the oil-rich region. The advance of the central Iraqi government forces in Dibis, home to the Bai Hassan and Avana oil fields, is part of an operation that Iraq’s Prime Minister Haider al-Abadi had ordered that sought to take control of Kurdish-held areas outside the autonomous Kurdistan region.  

Related: Kurdistan Proposes Immediate Ceasefire With Iraq

Following the overwhelming support for Kurdish independence in the referendum, the Kurdistan Regional Government (KRG) is seeking dialog to resolve all issues and has not declared independence in any part of Kurdistan. Iraq, for its part, says that the referendum is unconstitutional. On Thursday, Kurdistan authorities offered to freeze the result of September's referendum on independence and begin dialogue with Baghdad.

Kirkuk is the center of the struggle between Baghdad and Erbil as oil revenues are pretty much main income for the Kurds.

By Damir Kaletovic for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment

Leave a comment

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