Iraqi Kurdistan has hit new record target in oil export to Turkey in from the month of April.
According to the Kurdistan Regional Government (KRG)’s Natural Resource Ministry (MNR) monthly report, which has released, that Erbil has exported 16,878,985 barrels of crude oil (an average of 562,633 barrels per day (bpd)) in the month of April through the Kurdistan pipeline network to the port of Ceyhan in Turkey.
Exports to Turkey, Not Baghdad
KRG has been in agreement with the Iraqi government in Baghdad to export 500,000 bpd, in return for its fair share of the Iraqi budget. But while the KRG has hit the 500,000 bpd levels, it has been exporting the oil to Turkey instead of Baghdad.
The KRG and Baghdad have been at odds over the fulfillment of the export agreement, with KRG complaining that Baghdad hasn’t been delivering their fair share of the budget, and Baghdad complaining that KRG is sending its oil to Turkey instead of to Baghdad.
The KRG claims that it remains on track to meet its oil export commitments under the 2015 federal Budget and KRG export volumes, already at record levels, continue to increase. What remains to be seen is whether Erbil will be able to hit its agreement levels with Baghdad.[Read more at BasNews]