• 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
  • 5 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 hours CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 9 hours If hydrogen is the answer, you're asking the wrong question
  • 14 hours How Far Have We Really Gotten With Alternative Energy
  • 2 days Natural gas mobility for heavy duty trucks
  • 2 days Ocean Heat Could Supply Endless Clean Energy
Obscure Coal Stock Is World's Best 2023 IPO

Obscure Coal Stock Is World's Best 2023 IPO

The world’s best-performing IPO stock…

Hydrogen Set to Compete with Fossil Fuels

Hydrogen Set to Compete with Fossil Fuels

The University of Houston's new…

Kurdistan Exported $3.8 Billion Worth Of Oil Over Three Months

The autonomous Iraqi region of Kurdistan exported over 37 million barrels of crude oil over the three months to June this year, making $3.8 billion from the sales, local media reported.

Kurdistan has been exporting its oil independently of the central Iraqi government in Baghdad, but the latter appears to have grown unhappy with this state of affairs. Earlier this month, an official from the Iraqi oil ministry said that the government had advised international oil buyers not to do business with the Kurdish government.

The announcement followed an Iraqi Supreme Court ruling against a Kurdish law on oil and gas which was passed back in 2007. The government in Baghdad never recognized the law, which makes Kurdish exports of oil illegal from its perspective. According to Baghdad, Erbil is obliged to comply with the Supreme Court’s decision.

Iraq is OPEC’s second-largest producer of oil but political instability has plagued the country for years, interfering with its production growth plans. Tensions between Baghdad and Erbil have contributed to the instability.

A recent escalation of social unrest that led to violent clashes with protesters was the latest red flag, which prompted one analyst—RBC’s Helima Croft—to suggest Iraq could lose up to a million barrels daily in production if the escalation went further.

That was in late August when a prominent Iraqi Shia cleric said he would quit politics. Since then, things have quieted down but there are still ongoing protests in different parts of the country.

Meanwhile, the U.S. has urged Baghdad and Erbil to get together and discuss their oil and gas issues.

“The solution must come from the Iraqi fronts. It is not possible for the United States or any outside force to impose its opinions or impose a solution on the Iraqi people,” a State Department spokesman told Rudaw on the sidelines of the UN General Assembly that took place last week.

ADVERTISEMENT

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage



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