Crude exports by the Kurdistan Regional Government (KRG) dropped by 8.5 per cent in July to an average of 457,314 barrels a day (b/d).

The autonomous region of northern Iraq, which exported an average of 499,908 b/d in June, has now dropped significantly below its targeted 500,000 b/d.

The KRG also produced 306.6 million cubic feet a day (cf/d) of gas in July, falling from an average of 311.9 million cf/d produced in June. Oil is largely piped to Turkey for exports, while gas is consumed domestically in power plants. 

Crude was sold at an average of $32.53 a barrel with the KRG reported a gross value of sold crude oil of $461.2m for the month. The value of crude sold in June was reported at $562m.

The KRG has been selling crude independently from the central Baghdad government since talks broke down with the Kurds claiming they were not receiving budget payments.

Production was halted at Bai Hassan in Kirkuk after Islamic State in Iraq & Syria (Isis) attacked facilities on 31 July, killing five people. Production at the field is estimated to represent about a third of KRG exports.