Daily losses exceed $11 million due to the Kurdistan oil shutdown.
Daily losses exceed $11 million due to the Kurdistan oil shutdown.
2025-09-13 03:14
Shafaq News – Baghdad
The Echo Iraq Observatory, a non-profit organization specializing in economic affairs, revealed on Saturday that the Kurdistan Region’s oil exports are estimated at $11.16 million per day, holding the Iraqi parliament responsible for these losses.
The observatory said in a statement received by Shafaq News Agency, “The region was supposed to export approximately 230,000 barrels of crude oil daily, in addition to allocating approximately 50,000 barrels for local use. According to numerical calculations, the cost of extracting and transporting a barrel is approximately $16.” It noted that “the cost of delivering oil to the port of Ceyhan in Turkey is $1.5 per barrel.”
He explained that “after deducting these costs, the net profit from exports is expected to be 2,300,000 barrels per day, and at a price of $66 per barrel, approximately $11.16 million.” He indicated that “Iraq is losing $334 million monthly and more than $4 billion annually in expected profits due to the halt in exports.”
He pointed out that “the negotiating delegations of the federal and regional governments are closed to the media regarding the export situation,” holding the Iraqi parliament “responsible for this halt and the export chaos due to its failure to enact a law to manage and regulate oil and gas.”
shafaq.com
