KRG Oil Exports Earn Over $550 Million in March

lifted from Ceyhan by the buyers and the revenues received on account by KRG during March 2016.

According to the report, KRG has exported 10,148,487 barrels of crude oil (an average of 327,371 barrels per day (bpd)) in the month of March through the Kurdistan pipeline network to the port of Ceyhan in Turkey.

KRG received $557,272,177 on account in March (including $350,000,000 in loans and prepayments) from its crude oil exports, out of which $36,014,177 were allocated to the producers, reads the report.

“$4,258,000 were authorised and paid to Biwater Ltd on behalf of the Ministry of Municipalities and Tourism.”

Due to the conflicts and circumstances that occurred within the Turkish territories, there were approximately 12 days of downtime for the KRG's export pipeline. “This was the continuation of the downtime period that started in the middle of February.”