Most international oil companies working in Iraq, along with the semi-autonomous region of Kurdistan, have agreed to cut crude output to fulfill an OPEC accord.
The Iraqi Oil Marketing Company (SUMO) announced that the country's crude oil production in August remained steady at 4.638mb/d compared with 4.632mb/d in July.
Kirkuk has received new payments for exported oil from the Kurdistan Regional Government (KRG) bringing up the total amount paid to Kirkuk to $50m since December 2015.
Kurdistan’s oil revenue fell nearly 20% in July to less than $400m, as export loadings slipped and oil traders slashed their monthly prepayments to the Kurdistan Regional Government.
Kurdistan Regional Government (KRG) is ready to sign a new agreement with the Iraqi central government and increase its oil exports if Baghdad guarantees KRG a monthly revenue of $1b from the federal budgets.
Iraq exported near-record amount of crude in March from its southern ports reaching to around 3.286mb/d, up from 3.225mb/d in February, Oil Ministry informed.
Oil exports from the autonomous Kurdistan region in northern Iraq declined by nearly 50% in February due to the ongoing outage of a pipeline to Turkey, wiping $350m off the cash-strapped Kurdistan region's revenues a ...
The autonomous Kurdistan Regional Government (KRG) in northern Iraq announced that it may sell parts of its electricity sector to raise funds to reduce its budget deficit.