Kurdistan Region Left to Waste Crude Oil Refining Capacity

The Iraqi Kurdish region has been struggling to cope with plummeting oil revenues since last winter. According to Oil Price magazine, one of the main reasons behind this economic weakness is the sale of crude oil without utilizing its refining capacity.

The magazine points out that despite having several refineries in the Kurdistan Region, the capacity of these facilities has not been fully utilized. In fact, the Kelk refining complex, which is reportedly the largest in the region, has only used an average of 20 to 30 percent of its capacity.