Kurdistan slashes oil exports over payment feud
Under pressure from companies frustrated by political deadlock, the KRG has cut its exports in half.
Pieces of the Erbil-Dohuk gas pipeline, built by the KAR Group, laid out waiting to be welded together. (KAMARAN NAJM/Metrography/Iraq Oil Report)
ERBIL - The Kurdistan Regional Government (KRG) has cut in half oil exports as producing companies grow increasingly worried that Baghdad will not honor the payment terms of an export deal struck in September.
A senior official with Iraq's state-run North Oil Company (NOC), which handles exports through the Kirkuk-Ceyhan pipeline, said that in the past day its flow of Kurdish crude has been reduced to a rate of 70,000 to 80,000 barrels per day (bpd).
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