Home / Economy / Energy / KRG to Increase Oil Exports to Turkey

KRG to Increase Oil Exports to Turkey

Notice: Undefined index: file in /home/t546rtye/public_html/wp-includes/media.php on line 1325

Notice: Undefined index: file in /home/t546rtye/public_html/wp-includes/media.php on line 1024

Notice: Undefined index: width in /home/t546rtye/public_html/wp-includes/media.php on line 1033

Notice: Undefined index: height in /home/t546rtye/public_html/wp-includes/media.php on line 1034

Notice: Undefined index: file in /home/t546rtye/public_html/wp-includes/media.php on line 1042

Warning: strpos(): Empty needle in /home/t546rtye/public_html/wp-includes/media.php on line 1088
The KRG started to sell its oil independently last spring.

The Kurdistan Regional Government will increase oil exports to Turkey to 625,000 barrels per day from June, an official from the Kurdish parliament announced Wednesday.

“We will keep raising oil delivery due to the December 2nd agreement between Erbil and Baghdad,” Delshad Shaban, the deputy head of the oil and gas committee in the Kurdish parliament told the Turkish Anadolu Agency

“The Kurdish government will stick to the agreement,” he added.

The KRG promised to export 550,000 barrels per day, but due to the conflict in the region, exports from the Kurdistan Region have been lower than the agreed targets, said Shaban.

“The additional 75,000 barrels will count for the loss in promised targets,” he added.

Shaban maintains the main reasons for the failure in oil export targets are due to Islamic State (IS) control of certain oil wells in Kirkuk and maintenance issues on oil pipelines.

According to an agreement reached between Erbil and Baghdad on December 2nd, the Kurdish government was to export 250,000 barrels of oil per day and the Kirkuk province 300,000 barrels per day under the supervision of the Iraqi federal government’s oil marketing company, SOMO.

In return, Baghdad was to provide 17 percent of the national budget.


Check Also

A flame rises from a pipeline at Tawke oil field near Duhok. Photo: Azad Lashkari for Reuters

KRG: July’s Oil Export Income Around $390 Million

The Ministry of Natural Resources of the Kurdistan Regional Government said that revenues accrued from …