Erbil, Kurdistan Region, Iraq - The Kurdistan Regional Government (KRG) today publishes the monthly export report for July 2015. The KRG exported 16,019,090 barrels of crude oil (an average of 516,745 barrels per day (bpd)) in the month of July through the Kurdistan pipeline network to the port of Ceyhan in Turkey.

Of this amount, fields operated by the KRG contributed 12,020,683 barrels (387,764 bpd on average), while fields operated by the North Oil Company (NOC) contributed 3,998,407 barrels (an average of 128,981 bpd).

In July, the KRG supplied SOMO in Ceyhan with 2,201,540 barrels (average of 71,017 bpd). The KRG intended to deliver to SOMO a further 2 million barrels at the end of July but was unable to do so because of the interruption in the export pipeline.

Due to circumstances beyond the KRG’s control, during July there were 111 hours of downtime for the export pipeline, which mostly occurred at the end of the month. At the time of writing, the pipeline was still down.

In July, the KRG continued to increase its direct oil sales in Ceyhan to compensate the Region for the budget shortfalls from the federal government in Baghdad and to continue to pay down debts accumulated in 2014 from pre-payments for direct oil sales.

The KRG will continue to work with its counterparts in Iraq’s federal government to reach a resolution on all the outstanding issues of oil and gas as described in the joint statement of June 17, 2015 by the KRG’s Regional Council for Oil and Gas Affairs and the five political parties in the Kurdistan Regional Government. Click here to open the report.


As per KRG's agreement with the Iraqi government and under the 2015 Budget Law


Follow Us On Twitter - Image