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Iraq's Kirkuk Oil Exports Resumed

Initial deal has been agreed to export between 50-100k bpd of Kirkuk oil

The Iraqi Government has reached an initial agreement with the Kurdistan Regional Government to resume oil exports from Kirkuk, with exports beginning on Friday. 

The deal follows more than a year of deadlock with a Ministry of Oil statement revealing initial exports agreed for 50,000 - 100,000 barrels per day (bpd), which is far short of production levels of approximately 300,000 bpd.

Exports from Kirkuk were halted in October 2017 following the KRG independence referendum, causing a loss of approximately $8 billion of oil revenue in non exported oil. 

Source: Ministry of Oil, Reuters

 

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