KRG Exports an Average of More Than Half a Million BPD in October

Erbil (K24) - The Kurdish Ministry of Natural Resources said in a report published on Tuesday that last month`s crude oil exports through the Kurdistan
pipeline to the Turkish port of Ceyhan hit 18,461,000 barrels (bbl).

The report reveals the daily average of oil exports for October was well above half a million, at 595,000 barrels. Last month's sales remained very close to those in September, which were at 18,614,000 bbl.

Close to a third of exports -- 4,850,000 barrels -- came from fields operated by North Oil Company in the Kurdish-administered Kirkuk Province, whereas KRG-operated fields made the biggest bulk of the sales at 13,611,000 bpd.

The ministry added in the report that theft and sabotage occurred three days during October, which disrupted transportation.

The Kurdistan Region's direct oil sales to international markets through Turkey has strained relations with the Iraqi Federal Government since May last year when the initial oil sales -- an amount of over one million barrels -- transported via the newly constructed Kurdistan pipeline and was loaded on a tanker bound for Europe.

Since then, the Iraqi government arbitrarily cut the Kurdistan Region's share of the annual budget (normally 17 percent) in response to independent oil sales which it deems illegal.

The report, which does not disclose the number or nationality of buyers concludes that the KRG will continue to work with Baghdad "to reach a resolution on the issues of oil and gas."