Reviving Oil Exports: Iraq and Kurdistan Region Seek Resolution
The Iraqi Ministry of Oil is keen on restarting oil exports to the Turkish port of Ceyhan, and has requested an urgent meeting with the Ministry of Natural Resources in the Kurdistan region of Iraq and foreign companies operating in northern Iraq to come to an agreement.
Since March 2023, oil shipments via the Iraq-Turkey pipeline have been halted due to legal and financial uncertainties, impacting global oil supply. The conflict stems from the distribution of oil revenues between the federal government in Baghdad and the Kurdistan Regional Government.
The International Chamber of Commerce ruled in March 2023 that Ankara breached a treaty, leading to the suspension of oil flows. Media reports suggesting inflexibility of foreign oil firms in negotiations have been refuted by the Association of the Petroleum Industry of Kurdistan.
Despite ongoing discussions, oil production remains halted, emphasizing the need for cooperation between all parties to resolve the dispute and resume oil exports for the benefit of the region.