KRG oil shipments, revenue fall in August
New MNR report confirms slump after attack, taking exports and revenue down with it, but a rebound is expected as the KRG starts implementing a new Erbil-Baghdad deal for Kirkuk crude.
Loading arms at the terminal for Iraqi crude exports at the Turkish port of Ceyhan. (STAFF/Iraq Oil Report)
The Kurdistan Regional Government’s (KRG) oil exports and revenues fell month-on-month again in August due to an attack on a key oil field, though a new political deal to split federally-controlled Kirkuk oil will give the autonomous region a welcome cash boost.
The KRG still needs to meet ambitious terms given to oil traders to sell the crude as well as keep up payments to oil companies developing the fields.
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