Rosneft partially divests from Kurdistan’s export pipeline
In an apparent attempt to avoid exposure to U.S. sanctions, the company that operates Kurdistan's export pipeline has reduced Rosneft to a 49 percent share.
In Dohuk province, a pipe-laying machine stands beside sections of 36-inch diameter steel pipe, which await welding, in 2013. (PATRICK OSGOOD/Iraq Oil Report/Metrography)
Rosneft has divested a portion of its stake in the company that operates Iraqi Kurdistan's export pipeline to Turkey, reducing the risk that Iraq's northern oil flows will be hampered by new U.S. sanctions against Russia that are set to activate on Nov. 21.
The Kurdistan Export Pipeline (KEP) is owned by the Kurdistan Regional Government (KRG) and operated by the Kurdistan Pipeline Company (KPC), a consortium in which Rosneft used to hold a 60 percent share, along with the Iraqi Kurdish company KAR Group, which held a 40 percent share.
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