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Iraqi Kurdish Region Plans to Sell Oil
The Iraqi Kurdish Autonomous Region government issued a statement on the evening of the 8th saying that they will export oil through the pipeline between Iraq and Turkey starting in June this year, and the initial export volume is expected to be 100,000 barrels per day. However, the Iraqi central government stated that this decision had not been approved by the government.The Kurdish Autonomous Region government stated in a statement that starting from June 1, the Kurdish Autonomous Region will extract and export oil from the Tokai Oilfield, with an initial output of 60,000 barrels per day. In mid-to-late June, another oil field will also export oil, with a production capacity of 40,000 barrels per day. Ashti Halaimi, Minister of Natural Resources of the Kurdish Autonomous Region, said that the autonomous region government hopes to achieve the goal of exporting 250,000 barrels of oil per day by the end of this year. The oil will be transported to Turkey's Ceyhan port through the Iraq-Turkey oil pipeline.
Halaimi said that the National Petroleum Marketing Authority will be responsible for oil exports, and the proceeds will also be credited to the account of the Iraqi central government "to benefit all of Iraq." Halaimi also called the oil export plan a "historic achievement." However, Iraqi Oil Ministry spokesman Asim Jihad said that the central government has so far not reached any agreement with the Kurdish Autonomous Region on oil exports.
After the Iraq War, the Shiite-led central government of Iraq and the Kurdish Autonomous Regional Government have been at odds over the issue of oil exports and the attribution of proceeds from the Kurdish region. The central government opposes the Kurdish government's "private" signing of mining contracts with foreign companies, while the Kurdish government insists that the Kurds have the right to share the benefits of Iraq's oil. Some Iraqi economic analysts believe that Halaimi's statement that day was aimed at putting pressure on the central government to resolve the dispute as soon as possible.
Iraq has proven oil reserves of 115 billion barrels and is the world's third largest oil reserve country, second only to Saudi Arabia and Iran. More than 90% of its national income comes from oil trading.
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