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Rosneft Becomes First Oil Major to Pre-Finance Kurdish Crude

The logo of Russia's Rosneft oil company is pictured at the central processing facility of the Rosneft-owned Priobskoye oil field outside the West Siberian city of Nefteyugansk, Russia, August 4, 2016. Picture taken August 4, 2016. REUTERS/Sergei Karpukhin

Russian state oil firm Rosneft has become the first major oil firm to pre-finance crude exports from Iraq’s Kurdistan, joining trading houses in the race for crude from the semi-autonomous region. “We look forward to developing new markets for Kurdish crude oil,” a statement by Rosneft quotes chief executive Igor …

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PM Barzani: Transparency in Oil and Gas Sector is KRG’s Top Priority

krg-pm-barzani-ernest-young

The Kurdistan Regional Government signed an agreement with the multinational professional services firm, Ernst and Young, to audit oil and gas processes in the Kurdistan Region.During the signing ceremony on Wednesday, Prime Minister Nechirvan Barzani described the agreement as an important step by the Kurdistan Regional Government to be more transparent …

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KRG: Less Than 13M Barrels Oil Sold in August

taq taq oil field refinery kurdistan iraq

The Ministry of Natural Resources of the Kurdistan Regional Government (KRG) said that the total net income from oil exports in August amounts to $350 million. According to the monthly report of the MNR, the average price of a barrel of oil sold in August has stood on $32.44. The …

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

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

The Ministry of Natural Resources of the Kurdistan Regional Government said that revenues accrued from oil export in July has been $389 million after several deductions. In a statement published on their website, the MNR said that 457,314 barrels per day have been sold via Ceyhan port in July, which …

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