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Monthly oil exports of over 412,000 BPD, selling at an average of $32.44 per barrel

7/20/2016 8:38:20 PM

Lower oil prices and “adverse geopolitical developments” have led GKP to default on debt obligations and cash flow problems.


A Kurdistan Regional Government (KRG) source has stated there are currently negotiations discussing a potential oil pipeline between Kurdistan and Iran.


According to North Oil Company (NOC) statement on 29th March 2016, this amount has accounted for 65% of Iraqi Kurdistan's total oil exports.


Kurdish Prime Minister, Nechirvan Barzani said low oil prices have dealt a "painful blow" to the regional economy.