Iraq increases oil export by 150,000 bpd

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Iraq has reported an increase of oil export by 150,000 barrels per day. The country’s government managed to reach an agreement with the Kurdistan Regional Government which let to resume crude oil exports from the fields in the Kirkuk region. Thus Iraq has become OPEC’s second-largest producer by the end of this week, Oilprice.com says.

“Pumping operations started with test pumping at 70,000 barrels a day last Thursday and the Northern Oil Co. aims to boost it to its normal rate at 150,000 barrels a day this week,” Fouad Hussein, a member of the oil and energy committee of the Kirkuk provincial council, commented on Sunday. “This is a good step and significant initiative to strengthen relations between KRG and the federal government.”

Kirkuk is one of the richest oil regions of Iraq. For a certain time it has been unofficially controlled by the Kurdish Regional Government. Early in August, ISIS attacked the biggest field in the region but the KRG armed forces, the Peshmerga, neutralized it.