Business
Oil Export Sales from the Kurdistan Region of Iraq
Oil Export Sales from the Kurdistan Region of Iraq.
About this update from Gulf Keystone Petroleum Limited
[{"type":"text","content":"\n \nRNS Number : 3050X Gulf Keystone Petroleum Ltd. 09 January 2014 \n \n\nNot for release, publication or distribution in or into the United States or jurisdictions other than the United Kingdom and Bermuda where to do so would constitute a contravention of the relevant laws of such jurisdiction.\n \n \n \n \n9 January 2014\n \nGulf Keystone Petroleum Ltd. (AIM: GKP)\n(\"Gulf Keystone\" or \"the Company\")\n \nMNR Announcement on Oil Export Sales from the Kurdistan Region of Iraq\n \nIn relation to the announcement made by the Ministry of Natural Resources of the Kurdistan Regional Government regarding the sale of its first shipment of crude oil exported via Kurdistan Region's new pipeline through Turkey issued on 8 January 2014, Gulf Keystone's CEO Todd Kozel said:\n \n\"We welcome this important development and congratulate the Kurdistan Regional Government on this achievement of historic significance for the region, its people and all companies which will provide production capacity to fill this new pipeline today and in the months and years to come.\"\n \nThe Announcement from the Ministry of Natural Resources of the Kurdistan Region of Iraq is reproduced in full below:\nMinistry of Natural Resources Announcement on Oil Export Sales\nWednesday, 8 January 2014\nErbil, Kurdistan Region, Iraq - The KRG Ministry of Natural Resources (MNR) gives public notice of the commencement of the sale of its first shipment of crude oil exported via Kurdistan Region's new pipeline through Turkey to the Port of Ceyhan.\nMNR anticipates the sale of the first parcel of two million barrels of exported crude oil to occur at the end of January 2014. Thereafter, monthly parcels will increase to 4 million barrels by the end of February and 6 million by the end of March, then steadily stepping up to 10-12 million barrels for the month of December 2014.\nAt the beginning of this month, some initial quantities of crude oil produced from the Tawke field began flowing through Kurdistan's new pipeline system to the Turkish port of Ceyhan, and crude oil from Taq-Taq and other producing fields will soon be added to the export system, resulting in a blended medium crude oil quality of 30 to 32 Degrees API.\nProspective buyers can lift the crude oil shipments in the port of Ceyhan under similar arrangements...