BREAKING NEWS

Israel importing 77% of its oil supply from Iraqi Kurdistan, Financial Times says

By JPOST.COM STAFF

AUGUST 24, 2015 02:08

Up to three-quarters of the oil supply in Israel was reported from Iraqi Kurdistan, a Financial Times report said Sunday.

Between May and August 11, 19 million barrels of oil from Kurdistan were imported by Israel, the equivalent of $1 billion.

With a demand of 240,000 barrels a day in Israel, the Kurdish oil comprised 77 percent of the Israel's oil at this time.

The KRG would not say it sold oil to Israel “directly or indirectly,” though a senior Kurdish adviser said that “We do not care where the oil goes once we have delivered it to the traders."

"Our priority is getting the cash to fund our Peshmerga forces against Daesh [Isis] and to pay civil servant salaries.”

The rest of Israel's oil supply reportedly came from Russia, Azerbaijan and Kazakhstan, though Israel does not report on this information officially.

The London-based paper said that the oil sales are a sign of a growing disconnect between the Kurdish state and Iraq proper.

It is also a sign, the report said, of Kurdistan's growth in the international market as Italy, Greece and France are also apparently getting more and more of their oil from the Kurds.

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