Iraqi Kurdistan Eyes Economic Independence, 500,000 b/d 2015 Exports

Iraq’s Kurdistan Regional Government (KRG) expects its oil exports to nearly double to around 500,000 b/d by early next year, providing income that Erbil hopes will allow it to break free of economic dependence on Baghdad.

There has been no recent progress in negotiations between Baghdad and Erbil on the dispute over oil sales and revenue sharing, despite the common battle against the Islamic State of Iraq and Greater Syria (ISIS) that had been expected to bring the two sides closer to a deal.

The KRG’s Minister of Natural Resources, Ashti Hawrami was quoted as saying on 6 November that oil exports, currently estimated at around 240,000-260,000 b/d, are set to rise to 500,000 b/d by early next year and not even war had been able to prevent the flow of Kurdish oil. Kurdish oil output has increased by 60% “since the first bullets were fired,” Mr Hawrami was quoted as saying by the Kurdish news service Rudaw. (CONTINUED - 1247 WORDS)