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Iraq Close to KRG Deal for the Resumption of Kirkul Oil Exports

Deal could increase exports through the pipeline by an additional 400,000 bpd

According to reports, the Iraqi Government is closing in on a deal with the Kurdistan Regional Government to allow oil from Kirkuk to be exported through the KRG oil pipeline to Ceyhan in Turkey. 

Following sanctions on Iran, the US have been looking for oil producing countries to increase oil production and prevent further price rises. Should the deal be agreed, this could allow an additional 400,000 barrels of oil per day to be exported through the pipeline, which has recently had its capacity upgraded.

Exports from Kirkuk hae been halted since last October when the Iraqi Government took control of the fields following the Kurdish independence referendum.

Source: Offshore Technology

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