KRG imposes major new pipeline fees on companies
Increased tariffs are set to cost oil-producing companies millions of dollars per month — the latest headwind for Kurdistan's oil sector investors.
Oil tanks at Turkey's Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS). (UMIT BEKTAS/Reuters)
Iraq’s semi-autonomous Kurdistan Regional Government (KRG) is imposing higher pipeline tariffs on international oil companies — the latest in a series of unexpected and unilateral policy changes that raise doubts about the oil sector investment climate.
In a Feb. 10 letter, which was seen by Iraq Oil Report and confirmed as authentic by two industry officials and a KRG official, the KRG Ministry of Natural Resources (MNR) notified oil-producing companies that the authorities responsible for both the Kurdistan Export Pipeline (KEP) and the Turkish side of the Iraq-Turkey Pipeline (ITP) are assessing increased fees that will be passed on to companies.
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