Iraqi Kurdish Oil
Iraqi Kurdish autonomy has doubled its oil exports to the world markets, Reuters reported with the refrence to the industry sources.
According to the sources, oil and condensate flows which are being trucked over Iraq’s northern border with Turkey, bypassing Iraq’s federal pipeline system, increased to nearly 60,000 barrels per day (bpd), and are expected to grow to 70,000 bpd in May.
Reuters reported with the reference to the market sources that a second parcel from Taq Taq field in Iraqi Kurdish autonomy was bought by Germany’s Select Energy and is expected to be sold throughTurkey next week, the market sources reported. A third parcel from Taq Taq is being offered for the second week of May.
According to BP, oil reserves in the Kurdish administration of northern Iraq are estimated at 45 billion barrels.