ERBIL, Kurdistan Region - Kurdistan Region's oil exports resumed early Saturday, more than two years after suspension. It follows an interim agreement between Baghdad, Erbil and oil companies.
Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline had been suspended since March 2023, when a Paris-based arbitration court found that Ankara had violated a 1973 pipeline agreement with Baghdad by allowing Erbil to independently export oil since 2014.
The resumption of exports is possible after Erbil, Baghdad, and oil producers reached a deal this week.
"The operations commenced at 6:00 am at a high pace and complete flow without recording any technical problems worth mentioning, reflecting the success of the joint efforts between the federal government and the regional government in achieving this important accomplishment," said the federal oil ministry in a statement.
It considered the development "a prominent step toward enhancing the management of national wealth in a spirit of partnership and high coordination, contributing to ensuring the sustainability of oil exports and supporting the national economy."
Turkish energy minister Alparslan Bayraktar confirmed the flow of the Kurdish oil to his country at 7:07 am.
Mazhar Mohammed Saleh, an advisor to the Iraqi Prime Minister Mohammed Shia' al-Sudani for financial and economic affairs, told Rudaw on Saturday that the resumption of oil exports from the Kurdistan Region would contribute approximately 400-500 million dollars monthly to the country federal budget.
He also considered the agreement "a good beginning for establishing correct and transparent financial consensus that will be the basis for the 2026 budget if approved according to constitutional policies."
Kurdistan Region Prime Minister Masrour Barzani on Saturday described the resumption of the Region’s oil exports as a 'historic' development and a "great achievement" for all Iraq.
Barzani also commended the US officials for their efforts to make the resumption of the Kurdish oil exports possible.
Ali Nizar Faiq, the head of Iraq’s State Oil Marketing Organization (SOMO) said late Friday that the tripartite agreement is a "professional and just" one.
Iraq’s Minister of Oil Hayyan Abdul Ghani commented on the agreement on Friday, saying that for the first time in 20 years the Kurdistan Regional Government (KRG) has agreed to send 190,000 barrels of oil per day to SOMO and some 50,000 barrels will be kept for internal use and managed by Erbil’s Ministry of Natural Resources.
Last updated at 9:54 am
