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Oil: Lack of agreement with the region on the export of oil Iraq loses 550 thousand barrels per day
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Oil Ministry revealed that the lack of agreement between Baghdad and Erbil on the export of oil through the northern port, Iraq loses daily losses of up to 550 thousand barrels per day.
"The oil of Kirkuk is suspended because of lack of agreement with the Kurdistan region," said ministry spokesman Asim Jihad said in an interview: "The oil ministry wants to resume again through the pipeline region."
He added that "the production of Kirkuk fields now is more than 150 thousand barrels and can increase these rates after the resumption of exports," adding that "non-export through the northern port causes the loss of Iraq to financial revenues to the daily export rates of more than 550 thousand barrels per day."
"The ministry has announced more than once its desire to export through the northern port, but the complexities of files between the federal government and the region caused, as well as the Territory to export and conclude contracts with companies without reference to the federal government and the Ministry of Oil."
He stressed that "the halt of oil exports harm the national economy and cause significant financial losses," calling for "putting the national interest above all considerations because the export of these quantities will contribute to the Iraqi budget with the money of exports distributed to all Iraqis."
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