Kurdistan Says Iraq Must Investigate Missing Crude Exports

Kurdistan said Iraq must investigate a difference of about 35,000 barrels of daily crude exports this year from the region that is failing to appear in the national total.

The semi-autonomous province is shipping about 100,000 barrels a day from the Taq Taq, Tawke, Khormor and Khurmala fields, or about 35,000 a day more than that estimated by the Iraqi (OPCRIRAQ) federal government, Kurdistan’s Ministry of Natural Resources said today in an e-mailed statement.

“The KRG believes that this discrepancy should be investigated immediately in case somebody is creaming off the difference between the oil received and the oil sold,” the ministry said in the statement.

Kurdistan has not received any payment from the central government, which controls the export pipeline, for its oil sales since May, which means that the province is owed more than $1 billion for last year, according to the statement.

“Not a single dollar has been received for exports in 2012,” it said.

To contact the reporter on this story: Grant Smith in London at gsmith52@bloomberg.net

To contact the editor responsible for this story: Stephen Voss on sev@bloomberg.net

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