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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Crude oil production in Kurdistan Region increases despite export pipeline closure

    Rocky
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    • Post n°1

    Crude oil production in Kurdistan Region increases despite export pipeline closure Empty Crude oil production in Kurdistan Region increases despite export pipeline closure

    Post by Rocky Sun 01 Sep 2024, 6:57 am

    Crude oil production in Kurdistan Region increases despite export pipeline closure

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    Economy News - Baghdad
    Crude oil production in the Kurdistan Region of Iraq has increased despite the closure of the export pipeline and plans to expand, according to S&P Global Commodity Insights.
    Financial files of five public oil companies operating in the Kurdistan Region show that their crude oil production reached 173,000 barrels per day in the second quarter, up from 170,000 barrels per day in the previous quarter.
    That compares with just over 2,000 bpd in the quarter following the shutdown of the region’s main export pipeline to the Turkish port of Ceyhan in March 2023 and 182,230 bpd in the quarter before that shutdown.
    Total production in the region, including volumes from the local Kar group, rose by about 250,000 barrels per day, down from about 400,000 barrels per day before the pipeline shutdown.
    In a sign of how the Kurdish market is recovering, Norwegian oil company DNO announced it will expand its operations in Kurdistan for the first time since early 2023, saying in its second-quarter financial results that it will: mobilize a platform to drill a new well in the Tawke license.
    Production at DNO fields rose 9% from the previous quarter, with total crude oil pumped at 79,800 barrels per day in the second quarter of 2024.
    Similarly, Canada's Shamaran Petroleum, which has acquired the Atrush and Sarsink units and HKN operates both blocks, said it expects to increase production.
    Gulf Keystone said it has begun 24-hour transportation operations as production and demand increase. The company noted a “successful return to profitability and free cash flow generation” in its first-half 2024 financial results “after a challenging 2023.”


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