Iraq’s Kurdish region, where Genel Energy Plc and DNO ASA pump oil, delayed a target to produce 1 million barrels a day as the cost of fighting Islamic State militants saps resources. The Kurdistan Regional Government now expects to reach that goal by the end of 2016 rather than this year, Minister of Natural Resources Ashti Hawrami said Tuesday at a conference in London. The region produced about 636,000 barrels a day in November, according to official estimates . The cost of fighting IS, the Sunni Muslim insurgent group that controls swaths of territory in Iraq and Syria, has strained Kurdistan’s budget at a time when oil’s collapse has curbed funds to pay energy companies. The KRG, which resumed payments to the producers in September following an eight-month hiatus, said Tuesday that it recognized the need for regular disbursements. The government is committed to honoring contract terms, Hawrami said. […]