Kurdistan oil revenue collapses
Traders slash oil payments by more than half as the KRG's sole export pipeline remains hostage to security problems in southeastern Turkey.A tanker loads crude at the Turkish port of Ceyhan, May 2015. (STAFF/Iraq Oil Report)
The Kurdistan region’s oil revenue plummeted by more than half in February, aggravating a financial crisis that has already caused social instability, strikes, and waves of protests.
The KRG received just $303 million in payments from oil traders in February, according to a report published Monday by the Ministry of Natural Resources (MNR). Oil companies received $70 million, leaving just $233 million available for government spending.
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