• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 44 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 3 hours Reality catching up with EV forecasts
  • 6 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 11 hours 87,000 new IRS agents, higher taxes, and a massive green energy slush fund... "Here Are The Winners And Losers In The 'Inflation Reduction Act'"-ZeroHedge
  • 6 days A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 11 days The Federal Reserve and Money...Aspects which are not widely known
  • 16 days US Oil Independence is a myth and will always be a myth

Kurdistan Could Soon Start Shipping 250,000 Bpd Of Crude To Baghdad

The semi-autonomous Iraqi region of Kurdistan may begin deliveries by early next year of around 250,000 bpd of crude oil to the federal government in Baghdad for exports, Iraqi Oil Minister Thamer Ghadhban said.

Under an agreement from two years ago, Kurdistan is obliged to send at least 250,000 bpd to Iraqi state oil marketing company SOMO to be exported via the pipeline to the Ceyhan port in Turkey, Reuters quoted the Iraqi oil minister as saying on television late on Thursday.

The proceeds from the exports of these volumes are set to go to Iraq’s federal budget, Ghadhban added.  

ADVERTISEMENT

In October, the Kurdistan region pumped 440,000 bpd of oil, he said.

Iraq and Kurdistan have squabbled for years about the exports from the northern semi-autonomous region, with the Kurds exporting oil on their own since 2013.

ADVERTISEMENT

In November last year, Iraq resumed oil exports from the northern Kirkuk province, a year after it had stopped oil flows from the area due to a dispute with the semi-autonomous Kurdistan region.

Around 300,000 bpd of crude oil previously pumped and exported in the Kirkuk province to the Turkish port of Ceyhan were shut in when the Iraqi federal government moved in October 2017 to take control over the oil fields in Kirkuk from Kurdish forces after the semi-autonomous region held a referendum that Baghdad didn’t recognize. However, the only export outlet of the Kirkuk oil is the oil pipeline of the Kurdistan Regional Government (KRG). 

Iraq is now preparing to boost its oil export outlets, and plans to rebuild and expand the Baghdad-controlled oil pipeline out of Kirkuk, which is not functional currently. The expansion and reconstruction would add 1.1 million bpd of export capacity for Iraq to the port of Ceyhan. Iraq’s other key plan to boost export capacity is the construction of an artificial island south of the Al-Basrah off­shore terminal (ABOT) in the Persian Gulf, to boost exports from its key southern ports.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

ADVERTISEMENT


ADVERTISEMENT


Leave a comment

Leave a comment

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