Despite the recent violence, Iraqi Kurdistan increased oil output by more than 50% during June. The port of Basra cut exports from the south due to logistical problems. In fact, the International Energy Agency stated that oil production in Kurdistan increased to 360,00 barrels per day during June, an growth of 130,000 barrels per day from May. Moreover, the IEA declared that the pipeline, which is currently pumping 120,000 barrels per day to Ceyhan a Turkish port, could increase its capacity to reach at least 300,000 barrels per day before the year-end. Kurdistan minister of natural resources has announced that Kurdistan is a aiming to export 400,000 barrels per day before the end of the year.
Middle East based consultancy Dunia Frontier has called the Iraqi finance sector the last frontier for investors interested in oil and gas based financial services.Read More