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The resumption of oil flows would resolve a near two-year dispute over Kurdish oil exports as ties between Baghdad and Erbil improve BAGHDAD - Oil exports from the semi-autonomous Kurdistan region will resume next week, Iraqs oil minister said on Monday, resolving a near two-year dispute as ties between Baghdad and Erbil improve. The oil flows were halted by Turkey in March 2023 after the International Chamber of Commerce ordered Ankara to pay Baghdad damages of $1.5 billion for unauthorised pipeline exports by the Kurdistan Regional Government between 2014 and 2018. Tomorrow, a delegation from the Ministry of Oil... will visit the Kurdish region to negotiate the mechanism for receiving oil from the region and exporting it. The export process will resume within a week, Oil Minister Hayan Abdel-Ghani told reporters. He added that Baghdad would receive 300,000 barrels per day from the region. Erbil-based Rudaw TV earlier cited Kurdistans natural resources minister, Kamal Mohammed, as saying oil exports could resume before March as all legal procedures have been completed. The Iraqi parliament approved a budget amendment this month to subsidise production costs for international oil companies operating in Kurdistan, a move aimed at unblocking northern oil exports. The resumption is expected to ease economic pressure in the Kurdistan region, where the halt has led to salary delays for public sector workers and cuts to essential services. |
