Iraq/Kurdistan: Kurdish Oil Exports Surge Despite Security Concerns

Oct 16, 2014 | Alexander Whitcomb, Rudaw
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ERBIL, Kurdistan Region - The Kurdistan Region is ramping up its oil exports to Turkey despite the regional security crisis, according to Turkish officials.  

“The rate of crude oil flow from the Kurdistan Region to the port of Ceyhan reached 240,000 barrels per day (bpd) since the beginning of this week,” Turkish Energy Minister Taner Yildiz said in a statement.  

This marks a significant increase in exports, which were previously estimated at around 200,000bpd on average.  

The increase in output may help offset lower prices in global oil markets. The benchmark Brent crude fell this week to less than $83 per barrel, the lowest level since 2010. 

A new pipeline connecting the Kurdish oil fields to Turkey was finished last year.  The Kurdistan Regional Government (KRG) announced the first shipment of Kurdish oil through the pipeline in May.