By John Lee.
On 20th March, 2014, Prime Minister Nechirvan Barzani announced a KRG goodwill initiative to make a contribution to Iraq oil export to give the ongoing negotiations with Baghdad the maximum chance of success.
The Prime Minister stated that the contribution to oil export from the KRG would be 100,000 barrels per day, effective from 1st April, 2014.
Since the announcement, the KRG has been working in close cooperation with senior officials in the federal Ministry of Oil (MoO) in Baghdad and the North Oil Company (NOC) in Kirkuk to start the oil export process.
As a result, practical measures are now agreed both to supply and receive the oil offered from the Kurdistan Region.
However, due to ongoing repairs to the main Kirkuk-Ceyhan export pipeline, the KRG has been advised by NOC and MoO that they are not yet ready to receive any oil from the Kurdistan Region.
It has been agreed that as soon as the repairs to the pipeline are finished, the KRG shall begin to export from the Region to honour in full the KRG Prime Minister’s commitment.
(Source: Kurdish Regional Government)