• 4 minutes China goes against US natural gas
  • 12 minutes WTI @ 67.50, charts show $62.50 next
  • 15 minutes Saudi Fund Wants to Take Tesla Private?
  • 1 hour Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 23 mins Peak Oil is Now!
  • 12 hours Rattling With Weapons: Iran Must Develop Military To Guard Against Other Powers
  • 46 mins Russians hacking vs U.S., Microsoft President: Russians Targeting All Political Sides
  • 1 hour Corporations Are Buying More Renewables Than Ever
  • 7 hours VW Receives Massive Order Of 1,600 All-Electric Trucks
  • 15 hours Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 19 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 22 hours The EU Loses The Principles On Which It Was Built
  • 12 hours Batteries Could Be a Small Dotcom-Style Bubble
  • 22 hours Film on Venezuela's staggering collapse
  • 21 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 18 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
Oil Prices Fall On Significant Crude Build

Oil Prices Fall On Significant Crude Build

Oil prices fell on Wednesday…

Kurds Reportedly Delaying Oil Deal with Iran

Iran Pipeline

Kurdish authorities are reportedly holding up the final details of an oil agreement with Iran, according to PRESS TV.

Citing information from Rudaw, a Kurdish media group based in the Iraqi city of Erbil, the deal has yet to be finalized, even though it was supposed to have been signed on 4 May.

The pact would grant the Kurdistan Regional Government (KRG) access to the Persian Gulf in order to ship Kurdish crude abroad. Rudaw mentioned that the offer was allegedly made following a ”series of disruptions” preventing Kurdish oil from being shipped to Turkey’s Ceyhan port on the Mediterranean coast.

“The Iranian government stepped forward to sign the oil agreement with the KRG and for that they have been waiting for three months. But the KRG has remained silent,” said Nazim Dabagh, the Kurdish representative to Iran.

“The KRG should make their decision known ’with a yes or a no’,” Dabagh added, according to Rudaw.

Even though a KRG delegation went to Tehran in April and agreed to sign the pact within a month, Dabagh believed a delay developed due to a “fifty-year deal…between the KRG and the Turkish government for selling oil.”

Related:Nigerian Ex-President Accused of Backing the Niger Delta Avengers

Abdullah Akraiy, the general director of Iraq-Iran relations within the KRG, rejected the accusations, and noted that the postponement “has nothing to do with Erbil-Ankara oil agreements.”

“As far as I know, Iran has become silent on this project too,” he added.

According to data from BP, the Kurds are independently developing oil reserves they say may total 45 billion barrels, or around one-third of Iraq’s total deposits.

By Erwin Cifuentes 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