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The Iraq Ministry of Oil News: Clarification

The ministry confirms that the last agreement is still active

   The ministry of oil denies any new agreement of exportation between it and Kurdistan.

   The ministry confirms that the last agreement is still active. It also includes the budgets of the last two years in addition to the year 2017. And the reason behind the oil pumping stoppage through the Kirkuk – Turkey oil pipeline is the sabotage on it which was happened a few months ago.

  Because of the stoppage, the north oil company had to re-pump (100) thousand barrels/ day back to the wells without any financial outcome so that the ministry had to bear the operation cost of the north oil company.

   The re-pumping & exportation of the crude oil through Ceyhan port can provide additional outcome which can cover the operation costs of the north oil company, as well as the petro dollar share of Kirkuk province in addition to the outcome to the federal budget which was stopped because of the pumping stoppage.

   The ministry of oil is aiming to take the full control on the administration of all Kirkuk fields which was under the management of the north oil company before the occupation of ISIS gangs on the Iraqi lands and the seizure of the Peshmerga on some of the oil wells during the last government.

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