• 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
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 6 days Does Toyota Know Something That We Don’t?
  • 6 days World could get rid of Putin and Russia but nobody is bold enough
  • 2 days America should go after China but it should be done in a wise way.
  • 8 days China is using Chinese Names of Cities on their Border with Russia.
  • 9 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 9 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 9 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 8 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 9 days Putin and Xi Bet on the Global South
  • 9 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 10 days United States LNG Exports Reach Third Place
  • 10 days Biden's $2 trillion Plan for Insfrastructure and Jobs
UK Trade Authority Probes Steel Import Quotas

UK Trade Authority Probes Steel Import Quotas

The UK's Trade Remedies Authority…

Chesapeake's Production Cut Shakes Up Natural Gas Markets

Chesapeake's Production Cut Shakes Up Natural Gas Markets

Chesapeake Energy's decision to decrease…

Kurdistan’s Oil Exports Still Below Pre-Conflict Levels

Kurdistan’s crude oil exports increased in the past couple of days, but oil flows are still well below the levels seen before the independence referendum in the semi-autonomous region that raised the tensions between the Kurds and the federal government in Baghdad.

Kurdistan’s oil flows rose to 270,000 bpd on Wednesday and Thursday, compared to flows of between 200,000 bpd and 230,000 bpd in October, Kurdistan 24 news outlet reported on Thursday, quoting oil sources.

Although crude oil flows from Kurdistan are on the rise, they are still nearly half the volumes compared to the levels before the Kurds voted on September 25 to break away from Iraq. Baghdad—which never recognized the legitimacy of the referendum—moved on in October to take control over the oil-rich area around Kirkuk.  

In the middle of last month, Iraqi government forces seized the oil fields around Kirkuk, which had been under Kurdish control since 2014. The military maneuver knocked some 350,000 bpd of crude oil production offline, and led to oil prices spiking on concerns of unstable supply from the region. The Iraq-Kurdistan conflict was the first of a series of geopolitical events in the Middle East (the other being the Saudi purge) that pushed Brent oil prices above $60 a barrel at the end of October.

Related: Is U.S. Energy Independence Realistic?

Since Iraq’s federal forces seized Kirkuk from the Kurds, disruptions in oil flows have been an almost daily occurrence, and reports have it that the flow of crude oil from Kirkuk to the Turkish Mediterranean port of Ceyhan halved compared to the volumes before the conflict erupted.  

Iraq’s central government has started pumping oil from Kirkuk to Ceyhan, as it started exporting from the Avana field in Kirkuk via the Kurd-operated pipeline to Ceyhan. State-held North Oil Company was said they would also work to begin exporting from the nearby Bai Hassan oil field. 

By Tsvetana Paraskova for Oilprice.com

ADVERTISEMENT

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