Published On: Sun, Nov 9th, 2014

Iraq loses USD 1.2 bln per month due to Kirkuk-Ceyhan pipeline oil exports halt

Iraq loses USD 1.2 bln per month due to Kirkuk-Ceyhan pipeline oil exports halt

Iraq loses USD 1.2 bln per month due to Kirkuk-Ceyhan pipeline oil exports halt

Iraq has been losing USD 1.2 billion every month since last March because of halt of oil exports through Kirkuk-Ceyhan pipeline, the Oil Ministry said Saturday, thus federal budget lost more than 27 percent of projected revenues.
Iraq’s oil exports are falling behind by 300,000-400,000 barrels because of cessation of export via Kirkuk-Ceyhan pipeline since last March, Ministry spokesman Assem Jehad said in a statement, a copy of which received by KUNA.
Since terrorist groups controlled some governorates in northern Iraq, said Jehad, they sabotaged some oil facilities, stole oil from the fields of these governorates and smuggled it to outside the country “causing massive losses to the Iraqi economy.” Jehad said the federal budget has suffered losses more than 27 percent of its projected revenues.
Meanwhile, the government of Iraq’s Kurdistan region said it sold 5.34 million barrels of crude oil since January this year with around USD three billion. The government in Baghdad is opposing Kurdistan’s oil sales.

Source : KUNA Kuwait News agency

About the Author

Web Development CompanyTechyPros