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Iraq Calls for Meet with IOC's to Try and Resume Ceyhan Flows

OIL

Iraq’s oil ministry has called a meet with International Oil Companies (IOC’s) operating in Kurdistan and the Iraqi Kurdistan ministry of natural resource to try and resume oil flows via the Turkish port of Ceyhan.

  • "The ministry of oil called… a meeting in Baghdad as soon as possible for the purpose of… reaching an agreement to accelerate the restart of production and resume the export of oil through the Turkish port of Ceyhan and according to the quantities specified in the budget law," Iraq's ministry of oil said.
  • The flows were closed March 2023 when an international arbitration ruling said Turkey had breached a bilateral agreement with Baghdad by allowing Iraqi Kurdish crude to be exported without the federal government's consent.
  • Contract disputes with IOC’s added further complications to the situation after numerous false starts to resuming flows.
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