Kurdistan Regional Government oil exports increase

09 August 2015

Kurdish region exports 16 million barrels in June

KRG exported 516,745 barrels a day in July, a decline from 149,778 barrels a day in June.

The KRG will continue to work with its counterparts in Iraq’s federal government

The Kurdistan Regional Government (KRG) exported 16,019,090 barrels of crude oil in the month of July, an equivalent of 516,745 barrels a day (b/d).

Exports have declined from 149,778 b/d, in June. The oil was exported through the Kurdistan pipeline network to the port of Ceyhan in Turkey.

According to the export report by the KRG for July 2015, fields operated by the KRG contributed 387,764 b/d, while fields operated by the North Oil Company (NOC) contributed 128,981 b/d.

In July, the KRG supplied the State Oil Marketing Organisation (Somo) in Ceyhan with 71,017 b/d. The KRG intended to deliver an additional two million barrels to Somo at the end of July. But it was unable to do so because of the interruption in the export pipeline.

It continued to increase its direct oil sales in Ceyhan to compensate the region for the budget shortfalls from the federal government in Baghdad, and to continue to pay down debts accumulated in 2014 from prepayments for direct oil sales.

The KRG will continue to work with its counterparts in Iraq’s federal government. It aims to reach a resolution on all the outstanding issues of oil and gas, as described in the joint statement of 17 June by the KRG’s Regional Council for Oil and Gas Affairs and the five political parties in the Kurdistan Regional Government. 

Stay informed with the latest in the Middle East
Download the MEED app today, available on Apple and Android devices


A MEED Subscription...

Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.

Get Notifications