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Oil Companies Ramped Up Kurdistan Oil Output in 3Q23

OIL

International oil companies operating in the Kurdistan region have reported increased output in the third quarter of this year and promised further output hikes before the end of the year, despite the continued closure of the ITP pipeline according to Argus Media.

  • Most of the output is headed to the domestic market at a big price discount.
  • International oil companies operating in the region will not produce oil for pipeline exports from the region until overdue payments are received, Norway’s DNO that operate in the region said earlier.
  • Members of APIKUR would not restart pipeline exports until "it is clear how they will be paid for their contractual entitlements of oil already sold and delivered for exports and for future sales of such oil for exports", DNO said.
  • The ITP pipeline has been shut since 25 March.
Energy BulletsCommodities
Energy BulletsCommodities

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