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Iraq, Kurdistan Agree To resume Oil Exports Via Turkey This Week

OIL

The Iraqi and Kurdish governments reached an agreement to resume oil exports through Turkey this week, Lawk Ghafuri, the KRG’s head of foreign media affairs.

  • “Following several meetings between the Kurdistan Regional Government & Federal Government, an initial agreement has been reached to resume oil exports through Ceyhan this week,” Ghafuri said.
  • The resumption would be for more than 400kbarrels a day of Iraqi oil exports that go through Turkey. The deal will remain in effect until an oil and gas law is approved by the Iraqi parliament, Ghafuri added.
  • Iraq’s oil ministry in Baghdad said on Sunday that it hopes to reach an agreement to resume oil exports soon. The ministry said that it will announce the deal when “a final agreement is reached in accordance with the new understandings” for oil exports. Details of the agreement are yet to be made public.
  • Baghdad said last week that it’s up to the KRG to break the deadlock by accepting that Iraq’s state oil-marketing firm, SOMO, should handle Kurdish shipments from Ceyhan.
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