Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  

Subscribe to our free daily newsletters

Amid fighting, Kurdish oil payments continue
by Daniel J. Graeber
Washington (UPI) Oct 16, 2017

The Kurdish government in Iraq made good on an agreement to distribute a share of the production revenue from an oil field, a Norwegian company said Monday.

Norwegian oil and gas company DNO said it received $4 million from the semiautonomous Kurdistan Regional Government. The payment was the first under the terms of an Aug. 1 agreement that assigned DNO a greater stake in the Tawke oil field as well as 3 percent of revenues payable monthly for the next five years.

The payment announcement is the second in as many weeks for DNO, which works alongside British energy company Genel at the Kurdish oil field. DNO reported a payment for oil exports last week.

Companies working in the Kurdish region export oil through a pipeline running north to the Turkish seaport of Ceyhan on the Mediterranean Sea. Export capacity from the Kurdish pipeline is around 300,000 barrels per day.

Monday's announcement comes as military tensions rise in northern Iraq, more than two weeks after the Kurdish government held a contentious referendum for independence from the rest of the country. Acrimony between the Kurdish north and greater Iraq predates the U.S.-led invasion in 2003 and, since then, both sides have bickered over who controls how much of the oil reserves and revenue.

Last week, the federal Iraqi Oil Ministry called on the North Oil Co. to "speed up the implementation" of a project meant to move oil from a pipeline running from the disputed northern city of Kirkuk. Iraqi Prime Minister Haider al-Abadi called for a region-wide reconstruction effort after declaring northern Iraqi provinces liberated from the Islamic State, also known as ISIL, ISIS, and Daesh.

Fighting erupted in the north of Iraq during the weekend, with Iraqi military forces encircling the disputed city of Kirkuk. Indications on oil operations in the area are fluid, though there are no indications that the work of DNO or Genel was interrupted by the fighting.

Speaking to Iraq news outlet Rudaw, a spokesman for the Kurdish military force, Peshmerga, said two of the major oil fields in Kirkuk were still in Kurdish hands. Kurdish fighters were still holding their positions, but said their Iraqi counterparts were making advances.

OPEC's oil price forecast near a make-or-break point for U.S. shale
Washington (UPI) Oct 11, 2017
The price for crude oil next year should be around the so-called Goldilocks number for shale oil drillers in the United States, OPEC economists said. The Goldilocks scenario refers to a price point that's not so high that it encourages a strong drive in crude oil exploration and production, but not low enough to curtail capital spending and operations. Economists with the Organiz ... read more

Related Links
All About Oil and Gas News at

Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.

SpaceDaily Contributor
$5 Billed Once

credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly

paypal only

Comment using your Disqus, Facebook, Google or Twitter login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

NGOs slam UN aviation agency plan for biofuels

Breakthrough in direct activation of CO2 and CH4 into liquid fuels and chemicals

Surrounded by potential: New science in converting biomass

A key step in synthetic fuel production from seawater patented by NRL

Solar panels shine in darkest Amazon, the 'last frontier'

Total moves deeper into solar energy market

Flying Dutch win world solar car race in Australia

Statoil taps solar market in Brazil

OX2 hands over Ajos wind farm to IKEA Finland

Huge energy potential in open ocean wind farms in the North Atlantic

Wind farms in Atlantic could power the world: study

Germany gets economic lift with wind energy

Greenpeace fireworks shine light on French nuclear safety concerns

Japan government, TEPCO liable for Fukushima crisis: court

New 'molecular trap' cleans more radioactive waste from nuclear fuel rods

French, Belgian nuke plants vulnerable to attack: Greenpeace

Every economy at risk from climate change, IMF says

Ninety-eight scientists launch a 2,000-year global temperature database

Auditor slams Canada on lack of climate actions

Drought not dingos behind mainland Australia tiger extinction: study

Slovenia sets tough emissions limits for cars

The U.S. needs at least twice as many charging points for EV

Battery technology keeping electric car adoption in the slow lane

Japan's Denso unveils $1 bn investment in US for electric cars

Cinders and desolation in Iraq's Hawija after IS

Moscow says US 'pretending' to fight IS in Iraq

Shock Iraq torture photos raise ethical dilemmas

Young Iraqi given shot at governor's job after internet challenge

The rise of Kim Jong-Un's sister and image maker

Nobel Prize sends a nuclear message to Trump

Nobel winning anti-nuclear group urges Trump not to quit Iran deal

Abe vows to tackle N. Korea threat ahead of Japan election

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement