Kurdistan starts exporting oil, threatening more Iraq instability

The first cargo of crude oil to be exported by pipeline from Iraqi Kurdistan has left a Turkish port by ship, bound for another European destination.

A tanker loaded with more than 1M barrels of crude oil departed last night from Ceyhan, "the first of many such sales," the Kurdistan Regional Government says.

The move by the semi-autonomous region defies Baghdad's objections and may encourage other regional authorities to bypass the central government.

Oil companies with a Kurdistan presence include global majors Exxon Mobil (XOM), Chevron (CVX), Marathon Oil (MRO), Hess (HES) and Total (TOT), as well as wildcatters such as Gulf Keystone (GUKYF) and Genel Energy (GEGYF).

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Comments (3)
  • User 353732
    , contributor
    Comments (5168) | Send Message
    Kurdistan is likely to emerge as a reliable exporter of over 1 mmbpd of crude, via pipelines, within a few years, making its few million citizens among the most prosperous in the Middle East while building enough military strength to preserve its autonomy.
    There is very little Baghdad can do to stop this.
    Kurdistan will be the defacto nucleus of Greater Kurdistan covering parts of Syria, Iran and Turkey.


    Iran is the big loser here.
    23 May 2014, 01:19 PM Reply Like
  • awoljohn2
    , contributor
    Comments (3) | Send Message
    Can you go over the geo-economic-political reasons why a greater Kurdistan would make Iran the big loser, rather than Turkey or Iraq. I can see stability between Turkey and Greater Kurdistan to facilitate the oil trade.
    23 May 2014, 01:44 PM Reply Like
  • Mike Maher
    , contributor
    Comments (2867) | Send Message
    Yea, because oil riches always flow back to the citizens. Just look at the average everyday Russian, Saudi, Iraqi, Iranian, Venuzualian, Mexican, Nigerian, Angolan...
    23 May 2014, 02:10 PM Reply Like
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