KRG exports rise, but pipeline problems loom
With independent oil sales hitting record highs, Kurdistan promises payments to cash-starved IOCs – but pipeline attacks cast a cloud of uncertainty.
The final welded section of the KRG's Khurmala - Feyshkabour pipeline lies by trenching immediately south of oil storage tanks at DNO International's pumping station, 3km from the Turkey border. August 17, 2013. (PATRICK OSGOOD/Iraq Oil Report)
Iraq's autonomous Kurdistan Regional Government (KRG) reported oil sales of 492,273 barrels per day (bpd) in July – steeply increasing its independent exports despite more than four days of pipeline outages.
As exports rise, the KRG is also promising to make long-delayed, partial payments to international oil companies (IOCs), though the amount and timing of the prospective payments remains unclear.
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