Related Articles
Forward article link
Share PDF with colleagues

Hopeful Kurdish oil battles challenges in Iraq

Financial and political troubles are delaying the expansion of KRG oil production

A perfect storm of financial, political and security challenges is battering the Kurdish Regional Government (KRG) in northern Iraq, forcing its energy sector to hunker down. The region has stopped receiving government resources and, is funding a military campaign against Islamic State (IS) while caring for 1.8 million refugees and displaced people. Independent oil exports, deemed to be illegal by the federal government, began in June (see table). Although direct sales are bringing in more than was received from Baghdad in 1H 2015, they are still not covering the costs. Oil production is currently in the range of 650,000-700,000 barrels per day (b/d). KRG’s Natural Resources Minister Ashti

Also in this section
Interview: Energean's Mathios Rigas targets East Med success
19 July 2018
Energean’s boss reveals the secrets of his small company’s big success in the Eastern Mediterranean
Serica sanguine on Iran sanctions
13 July 2018
The firm's historic links to Iran are in the spotlight as US sanctions resume
The return of cautious optimism in the North Sea
13 July 2018
The UK’s North Sea hub, braced for production declines, has received a boost from new investments and revived interest from the supermajors