Iraq’s autonomous Kurdistan region has halted its oil exports because it says the central government in Baghdad has failed to make payments to companies working there, the Kurdistan Regional Government said on Sunday.
Iraq’s crude exports in March were the highest monthly figure in more than two decades and should continue to rise, oil ministry spokesman Assem Jihad said on Sunday.
Iraq’s crude oil exports rose to their highest level since 2003 in March, at 2.317 million barrels per day (bpd) from 2.014 million bpd in February thanks to a new offshore export terminal, the State Oil Marketing Organisation said on Sunday.
Iraq’s crude oil exports rose to 2.317 million barrels per day (bpd) in March from 2.014 million bpd in February, a senior official said.
Iraq’s Kurdistan Region is set to increase its oil production to 100,000 barrels per day (bpd) following a decision by the federal government to pay Iraq’s dues to the foreign companies operating in the region, AK News has reported.