ANKARA: Kurdistan Regional Government (KRG) in Iraq secured revenues worth $636 million for oil exports through the Ceyhan crude oil pipeline, which is a 970 km (600 miles) long pipeline and Iraq’s largest crude oil export line. Iraq’s Kurdistan Regional Government (KRG) received a total amount of $636,364,810 from its crude oil export in October through the Kurdistan pipeline network to the port of Ceyhan in Turkey, in the Mediterranean region. According to KRG Natural Resources Ministry, 16,766,563 barrels of oil were exported by the Erbil administration in October through the port of Ceyhan.
While the total oil production in the KRG was 19,036,203 barrels in October, the average daily oil production reached 614,071,000 barrels. The KRG exported its crude oil through Ceyhan with an average of price of $39.32 per barrel. The KRG received a net income of $416,511,598 in October, of which $219,853,212 was allocated to producers and costs. Sept. 2016 was the first full month for exports since the North Oil Company resumed pumping crude oil from the fields it operates in Kirkuk, which the Kurdistan Regional Government controls, following a four-month dispute over revenue sharing. The route for oil from Kurdistan’s producing fields has traditionally been the Kirkuk-Ceyhan pipeline, via dual export lines.
