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Iraqi Oil Ministry Blames Foreign Companies for Kurdistan Delays

OIL

Foreign companies operating in Iraqi Kurdistan are partly to blame for the delay in the resumption of crude exports from the region according to Iraq’s oil ministry Monday.

  • The foreign companies operating in the area have so far not submitted contracts to the federal oil ministry to have them revised in accordance with the constitution and the law.
  • The Iraq-Turkey pipeline, which delivers flows from the region, remains shut since March last year after legal and financial hurdles prove difficult to overcome – further pressuring flows from the region.
  • According to Iraq’s Kurdistan Regional Government’s (KRG) finance minister Awat Shekh Janab over the weekend, IOCs in Kurdistan have been producing at over 125,000 b/d since April 2023, with Erbil handing over ~75,000 b/d to Baghdad between 25 June-1 December 2023.
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