Iraq News - Local News - Baghdadpost

KRG Denies Reports of Oil Export Reduction

The Kurdistan Regional Government (KRG) on Saturday refuted the reports claiming that it had cut its oil exports in June, saying the reports were “unfounded”.

Media reports claimed that the KRG had slashed its oil exports by 100,000 barrels per day (bpd) in the previous month to comply with the international oil production scales.

Ministry of Natural Resources, however, issued a statement saying that “Kurdistan Region’s oil exports continue as the previous months.”

Since mid-2014, after the Iraqi government cut KRG’s share from the federal budget, the Kurdistan Region is producing and exporting its oil to Turkey’s Ceyhan port, from where it is sent to the international markets.