KRG Exports Tick Up But Remain Low

KRG Exports Tick Up But Remain Low
An Iraqi worker opens an oil pipeline at al-Shouayba refinery station in Basrah June11, 2003. OPEC on Wednesday agreed to hold the line on oil output and called another meeting in seven weeks time in case recovering Iraqi exports undermine high prices. REUTERS/ Jamal Said JS/CRB – RTRP5WO

Oil exports from the semi-autonomous Kurdish region in Iraq to Turkey rose to 255,000 barrels a day (b/d), Reuters reports.

Exports had been hovering between 200,000 and 250,000 b/d after the central government seized the Kirkuk oilfield early last week, according to Reuters. Prior to the seizure, the KRG had been exporting approximately 600,000 b/d.

The oil is exported via pipeline to the Turkish port of Ceyhan.

The Iraqi Oil Minister, Jabar El Luaibi, has asked BP to play a role in increasing production from the Kirkuk oilfield. The government is looking to increase production from the fields to 700,000 b/d, Reuters reports.

“The minister is very keen to rehabilitate the Kirkuk oilfield and raise production from there as soon as possible,” a ministry spokesman, Asim Jihad, told Reuters.

The oilfield is estimated to contain 9 million barrels of recoverable crude, Reuters reports.

The central government seized control of the fields after a period of increasing tensions between Baghdad and Irbil. Last month the Kurdish Regional Government (KRG) held a non-binding independence referendum—a move strongly opposed by the Iraqi government.

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