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North Iraq oil exports fall in Dec.

North Iraq oil exports fall in Dec.

BAGHDAD: Oil exports from northern Iraq via pipeline to Turkey fell to an average of 584,056 barrels per day (bpd) in December, the Kurdistan region’s Ministry of Natural Resources said, down by around 16,713 barrels from November.
The pipeline, which links oil fields in Iraq’s autonomous Kurdish region and Kirkuk with Turkey’s Mediterranean port of Ceyhan was idle for three days in December due mainly to attempts at sabotage and theft, the ministry said.
Exports via the pipeline increased steadily last year as the Kurds cut allocations to Iraq’s state oil marketing firm SOMO from June, ramping up their own independent crude sales in an effort to tackle an acute economic crisis.
The ministry’s data indicates no crude was transferred to SOMO in December.
Under the terms of the 2016 Iraqi budget, the Kurds are entitled to a set share on condition they contribute 550,000 bpd of oil to SOMO.
Most of the oil was pumped from fields within the Kurdistan region, which accounted for 435,630 bpd in December.
The rest came from the disputed Kirkuk field, which is operated by Iraq’s state-run North Oil Company (NOC) but has been under Kurdish control since June 2014 when Islamic State militants overran the north of the country.