Iraq's Kurdistan region said it had allocated $75 million of revenue from its direct crude oil sales to three international oil companies, whose payments have been disrupted by a dispute between Erbil and Baghdad.
Oil pumping in the Iraqi pipeline carrying Kurdish and Kirkuk oil to Turkey's Mediterranean port of Ceyhan has been halted since last Thursday, shipping agents and Turkish energy sources said.
Crude flow wa
Turkey does not envisage a new pipeline being built for Kurdish oil from Iraq until an existing pipeline between Kirkuk the Turkish Mediterranean port of Ceyhan is working at capacity, Energy Minister Taner Yildiz said.
Crude oil flow from Iraq's Kirkuk and Kurdish oil fields to Turkey's Mediterranean port of Ceyhan is continuing at a rate of 650,000 barrels per day (bpd), Turkish Energy Minister Taner Yildiz said.
Kurdish authorities said their forces, backed by US-led coalition airstrikes, drove Islamic State militants from an 84 sq km area in northern Iraq, widening a buffer around the oil-rich city of Kirkuk.
Kurdish peshmerga forces retook a small crude oil station near the northern Iraqi city of Kirkuk which Islamic State insurgents seized earlier, but the fate of 15 employees remained unclear.
Two officials from
Iraq's Kurdish region will continue to export its own crude oil under an initial deal with Baghdad until a comprehensive deal is reached, with work on a final agreement expected to start within weeks, Iraqi oil minister Adel Abdel Mehdi said
Iraq's plan for higher oil exports in 2015, emerging in detail just days after the Organization of the Petroleum Exporting Countries (Opec) shunned any output cut, will add to global over supply and is likely
Islamic State forces shelled the Syrian border town of Kobani on Saturday and its Kurdish defenders said they were expecting a new assault to try to capture it.
US-led coalition warplanes had struck at Islamic State targets overni
Iraq's new oil minister is a veteran politician who will need to deploy all his experience to resolve disputes over Kurdish oil production and allay foreign investor fears about Islamist militia control in northern oil fields.