Kurdish Oil Exports to Increase to 400,000 b/d . Shwan Barzinji . BasNews , Erbil Next month Kurdish oil exports are expected to increase significantly, according to a member of the Iraqi Kurdistan Parliament. Kurdish MP Dilshad Shaban told BasNews that export of Kurdish oil to Turkey continues and will increase considerably in the near future. It is seen as a quick way to ease the current economic pressures facing the Kurdistan Regional Government. . “The extra revenue from oil sales into the Kurdistan Region will be used to pay government employees’ salaries in the future,” Shaban said. He also rejected reports claiming that Turkey has confiscated some Kurdish oil revenue, saying that the money is currently being held in the Turkish HalkBank and will be released to the Kurdistan Region shortly. “Currently the region exports about 240-250,000 barrels per day and in the next two months, that will increase to 400,000 barrels per day. With the increased revenue the government can manage local needs, especially the salaries owed to Kurdish government employees,” added Shaban. The central Iraqi government stopped sending Kurdish employees’ salaries nine months ago and the Kurdistan Region has faced the harsh realities of life without the federal budget since then. In the past a few years, Erbil and Baghdad have been at loggerheads over the issue of Kurdish oil exports, with the KRG saying it’s their right and Baghdad accusing them of violating the Iraqi constitution. Since May 2014, the KRG has officially exported its oil through independent oil pipelines to Turkey and so far 25 Kurdish oil tankers have been exported to the international market from the port of Cihan, a total of 11 million barrels.
Its a doomed entity. Everybody who joined since 2000, half the members, is a schmuck who takes much and offers little, with everybody else bailing out the muppets continually. Due to this, it won't survive.
I'm hoping for brighter times ahead. Have only been in the share for around 18 months ( only a fraction of the time some of you have been in ) but going from the initial rise which came as a result of the hearing to this is mental. I used to keep a very close eye on this but recently have decieded to only view it sporadically in hope that something would happen. I keep my fingers crossed as I know this company has something. Only time will tell. Best of luck chaps
Good to see you have taken a couple of positions with GKP in the low 50's, there is a good chance you will make an excellent return long term,a good profit near term imvho, as this looks like it can explode :)) The sale of AB, improving politics,increased production and there is always the welcome predator looking to make an offer, is worth a punt. Good luck and ATB with your trade.
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