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Kurdistan announces reduced oil exports in August

KRG continues to sell oil directly to compensate for region’s budget deficit

Kurdistan Regional Government (KRG) announces a decline of 8.5 per cent in its oil exports in August, compared with July.

The government says that the decline is due to the interruption in oil pumping in the Kurdistan-Ceyhan Oil Pipeline for a few days, Iraq-based Al Mada reports.

The government states that oil exports through the Kurdistan-Ceyhan pipeline during August reached 14.65 million barrels.

The statement adds: “Oil exports in August from oil fields in the Kurdistan region reached 10.96m barrels, while exports from fields managed by North Oil Company reached 3,698,981 barrels.

The statement reveals that during August KRG continued to sell oil directly from the Turkish Ceyhan Port to compensate for the deficit in the region’s budget, which was reduced by the Federal Government in Baghdad.

Despite discord between the two sides, the Kurdish government shows willingness to work with Iraq’s Federal Government to reach an agreement in all oil- and gas-related issues.