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Iraq agreed with Kurdish authorities to resume oil exports from Kirkuk

Iraq's central government has agreed with Kurdish authorities to resume oil exports from Kirkuk.

Iraq agreed with Kurdish authorities to resume oil exports from Kirkuk Iraq agreed with Kurdish authorities to resume oil exports from Kirkuk


 

Baghdad, November 20 - Neftegaz.RU. Iraq's central government has agreed with Kurdish authorities to resume oil exports from Kirkuk, said the oil ministry , a year after federal forces seized the lucrative fields.  

 

The Iraqi PM Adel Abdul-Mahdi's government struck a deal with the Kurdish regional government to export 50,000 to 100,000 barrels per day (bpd).

 

«The federal government and the government of the Kurdish Region of Iraq (KRI) reached a preliminary agreement to resume oil flows starting today from the Kirkuk fields through the KRI's pipeline to the Ceyhan port in Turkey,» he told AFP. 

 

A source from the state's North Oil Company confirmed that oil had begun pumping out of Kirkuk at 10am (0700 GMT), describing it a test. «It began as an experiment with 50,000 bpd and will later reach an average of 80,000 bpd,» the source added.

 

Iraq is OPEC's 2nd-largest oil exporter at 4.5 billion bpd. Oil exports make up almost the entirety of the government's revenue, bringing in $8.5 billion last month. 

 

Source : Neftegaz.RU