Kurds Ship $1.3bn Oil since May

By John Lee.

Reuters reports that Iraqi Kurdistan has shipped a total of nineteen tankers carrying 13.7 million barrels of crude oil since May, using its new pipeline to the Turkish port of Ceyhan.

An official told the news agency that the flow of oil continues without any issues, and a 20th tanker will be loaded in the coming days.

Meanwhile, Turkish Energy Minister Taner Yildiz told reporters that Turkey’s state-run Halkbank, to which buyers of the Kurdish oil make their payments, holds $400 million in respect of Kurdish oil sales.

“This is a business in which so far $1.3 billion-worth of revenues has been made,” Yildiz added.

(Sources: Daily Sabah, Nina, Gulf Times)

(Oil image via Shutterstock)

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