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Kurdistan Lose $500 Million In Lost Revenue Since July

Damage to mail oil pipeline is stopping growth of region

Sabotage by gangs of the oil pipeline from northern Iraq to Turkey has cost Kurdistan approximately $501 million since July 1st of this year.

The pipeline which delivers oil to the Turkish port of Ceyhan from fields in Iraq’s Kurdish north has been stopped on numerous occasions due mostly too sabotage.

The Kurdistan ministry of energetic said oil exports were the Kurdistan region’s main means of survival and that the “hot-tapping” of the pipeline affected the ability of its peshmerga forces to fight Islamic State of Iraq and the Levant (ISIL) militants.

Lost revenue from July 1 to Aug. 17 amounted to $251 million, the ministry said, “in addition to $250 million damage to KRG finances caused by the explosion on the pipeline at the end of July”.

That meant the Kurdistan Regional Government (KRG), which is suffering an acute economic crisis, would struggle to pay civil servants’ salaries for June.

The ministry called on the assailants to stop targeting the pipeline and urged Turkey and pipeline operator BOTAŞ to increase their efforts to secure it.

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