At least three oil licenses in the semi-autonomous Kurdistan region of northern Iraq are shut in or running at reduced rates on Wednesday following a halt to the northern export pipeline, company statements showed, with more outages on the horizon.
Iraq was forced to halt around 450,000 barrels per day of crude exports, or half a percent of global oil supply, from the Kurdistan region The stoppage has helped boost oil prices in recent days back to near $80/bbl.
Genel Energy , a partner in the fields, said: "Peshkabir production was halted last night and plans drawn up to conduct deferred maintenance. Tawke production shutdown has started but will take an additional day or so.", formerly Oryx Petroleum Corp, was forced to shut in production earlier this week from the 14,500 bpd Hawler license, which produced an average 13,700 bpd in January and February.
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