A report issued on Friday by S&P Global Commodity Insights revealed that oil companies operating in the Kurdistan region of Iraq increased their oil production despite the closure of the Iraq-Turkey oil pipeline. Financial statements of five oil firms operating in Iraqi Kurdistan demonstrate that their combined crude oil output …
Read More »International Oil Companies Caught in Kurdish Smuggling Web
Kurdistan hasn’t been able to export its oil via a pipeline for more than a year now, but crude continues to flow out of the semi-autonomous Iraqi region—on tank trucks to the border with Iran. More than 1,000 such tank trucks are estimated to be transporting at least 200,000 barrels …
Read More »Baghdad to Discuss Amending Iraqi Kurdistan’s Oil Contracts in December
Iraqi officials in the oil sector plan to meet with representatives of international oil companies and Iraqi Kurdish officials in early December to discuss contract amendments focusing on the latest efforts to resume oil exports from northern Iraq through Turkey. The Undersecretary of the Ministry of Oil for Extraction Affairs, …
Read More »Turkey Seeks $950M from Iraq over KRG Oil Dispute
When Iraq in April asked a US federal court to enforce an arbitration ruling against Turkey, seeking $1.4bn damages in relation to crude oil exports from its autonomous Kurdistan region, everyone was caught off guard in Ankara. Iraq had not notified Turkish officials, let alone tried to have a conversation …
Read More »Turkey Tries to Broker Revenue-Sharing Deal on Kurdish Oil
Turkey is in the process of brokering a deal between the central Iraqi government and the authorities of the semi-autonomous Kurdistan region on sharing the revenues from crude oil production in the northern Iraqi region. The deal, according to Bloomberg, which cited unnamed Turkish officials, would help resume the operation …
Read More »Iraq Unwilling to Resume Crude Exports from Kurdistan to Turkey
It is easy to lose sight of the wood for the trees sometimes in the complex world of global oil. And perhaps no subject in that world involves so many different intricate moving parts as the extraordinary relationship between the Federal Government of Iraq (FGI), based in Baghdad, and the …
Read More »New Iraqi Budget Law Strengthens Baghdad’s Hand over Kurdistan Region’s Oil Sector
Already reeling from the months-long suspension of its crude exports, Iraq’s semiautonomous Kurdistan region may see its lifeblood oil sector further hemmed in with the passage of the federal budget. The budget, passed June 12 following four days of late-night voting and intense debates within Iraq’s parliament — including on …
Read More »Iraq: Kurdish Region Loses $1.5bn since Oil Exports to Turkey Stopped
The Kurdistan Regional Government in northern Iraq has lost more than $1.5 billion since oil exports to Turkey were stopped, according to a report published on Tuesday by the US financial website Zero Hedge. Oil production in the region under KRG rule has continued to decline, extending a stoppage that …
Read More »Iraq Ready to Resume Oil Exports form Kurdistan
The Iraqi Oil Minister, Hayan Abdul-Ghani, stated that Iraq wants to resume oil exports from the Kurdistan region of Iraq to the Turkish port of Ceyhan, starting from Saturday, but it is waiting for Turkey’s approval, Reuters reported. Experts say that Turkey’s presidential elections taking place on Sunday might postpone …
Read More »450,000 Bpd Flow of Kurdish Crude Unlikely to Restart this Weekend
While the Iraqi oil minister has said that 450,000 barrels per day of shut-in oil exports from Iraqi Kurdistan would restart exports on Saturday, Kurdish and Turkish officials both said on Friday that it is unlikely the pipeline would be turned back on in that timeframe. The pipeline was closed …
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