Iraq and Kurdistan Strike Deal to Resume Oil Exports to Turkey
The Iraqi government and Kurdistan Regional Government have agreed to restart oil exports to Turkey's Ceyhan hub. The deal includes forming a joint committee, securing oilfields, and resuming crude exports amid regional tensions. Disagreements continue over trade controls and the impact of Iran's conflict on oil supply.
The Iraqi government and the Kurdistan Regional Government (KRG) have successfully negotiated an agreement to recommence oil exports to Turkey's Ceyhan energy hub. The Iraqi Oil Minister confirmed the operation is set to restart at 10 a.m. local time on Wednesday.
This development was further confirmed by the KRG, which announced the formation of a joint committee with the intent of resuming oil exports via the region's pipeline. Revenue generated will be directed to the federal treasury, and necessary security measures have been agreed upon to protect oilfields.
KRG Prime Minister Masrour Barzani expressed the region's commitment to facilitating crude exports promptly, highlighting communication with the U.S. envoy to ensure this progression. Tensions persist over Iraq’s approach to trade restrictions and the effects of the Iranian conflict on oil production, as reported in previous developments by Iraqi officials.
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