Document shows KRG exported 625,000 bpd in January

Document shows KRG exported 625,000 bpd in January
4 years ago

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SULAIMANI — The Kurdistan Regional Government (KRG) exported 625,000 barrels of oil per day (bpd) to Ceyhan Port in the month of January, according to a document obtained by NRT on Sunday (February 5).

The KRG Ministry of Natural Resources (MNR) exported 19,396,000 barrels of oil in January but only 17,000,000 barrels remained for the KRG, the document stated.

The KRG could have generated $760 million if the Kurdish government had sold a barrel of oil at $43 in the last month. However, the document has not highlighted the amount of money generated.

The KRG exported 1,744,000 barrels to the Iraqi State Organization for Marketing Oil (SOMO) in January but should have exported 4,000,000 in accordance with an agreement with the Iraqi government.

The document came while the MNR has not yet published the monthly oil reports for the past two months.

The KRG exported more than 587,000 bpd to the Ceyhan Port in the month of November and generated nearly $568 million, according to the ministry’s report published in December.

The Norwegian oil and gas company, DNO ASA, and Gulf Keystone operating in the Kurdistan Region announced on January 23 they received more than $53 million from the KRG for oil exports for the month of October, 2016.