Iraq’s KRG Exported 625,000b/d of Oil

Iraq’s KRG Exported 625,000b/d of Oil

Iraq’s Kurdistan Regional Government (KRG) exported 625,000b/d of oil to Ceyhan Port in January 2017, Ekurd Daily informed.

According to a document obtained by NRT TV, the KRG’s Ministry of Natural Resources (MNR) exported over 19m barrels of oil in January, but only 17m barrels remained for the KRG.

The document has not highlighted the amount of money generated., however, according to estimates, the KRG could have generated $760m if the Kurdish government had sold a barrel of oil at $43 in January.

Additionally, the KRG exported 1.744m barrels of oil to the Iraqi State Organization for Marketing Oil (SOMO) in January instead of the scheduled 4m in accordance with an agreement with the Iraqi government.

In earlier news, the Norwegian oil and gas company, DNO ASA, and Gulf Keystone operating in the Kurdistan region announced they had received more than $53m from the KRG for oil exports for the month of October, 2016.

Mariana Somensi 890 Posts

Mariana holds a Journalism Bachelor Degree from the State University of Londrina, Brazil. The Brazilian journalist has 4 years of experience on the MENA region's affairs and over a year of experience on the oil and gas industry.


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