Kurdistan Region Oil Exports Rise to 180,000 Barrels per Day
Currently, 60,000–70,000 barrels of Kirkuk oil are being transported through the Kurdistan Region's pipeline for export outside Iraq.
ERBIL (Kurdistan24) — Oil exports from the Kurdistan Region have increased to 180,000 barrels per day, while between 60,000 and 70,000 barrels of Kirkuk crude are also being exported daily through the Region’s oil pipeline to destinations outside Iraq, a source told Kurdistan24 on Thursday.
According to the source, 180,000 barrels of oil produced in the Kurdistan Region were exported on Wednesday, marking a gradual increase in exports in recent months.
The source attributed the rise to the return of oil-producing companies that had previously withdrawn from the Kurdistan Region due to security concerns. The companies have returned in recent months and resumed production and exports, gradually increasing their daily output.
Currently, 60,000–70,000 barrels of Kirkuk oil are being transported through the Kurdistan Region's pipeline for export outside Iraq.
The source also said that Iraq’s total oil exports reached 2.25 million barrels per day in August, contributing to an improvement in the country’s financial situation in recent months.
The source predicted that Iraq’s oil exports could increase further if the current trend continues.
In recent months, some foreign companies operating in the Kurdistan Region had withdrawn personnel or reduced production amid security concerns to protect their staff. Their subsequent return has helped restore and increase production levels.
Iraq remains heavily dependent on oil revenues, which account for more than 90 percent of government revenues. Higher oil exports could strengthen Baghdad’s finances, help reduce the federal deficit, and provide greater capacity to fund public services and meet financial obligations.