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Kurdistan Region of Iraq to Restart Oil Exports in Just 48 Hours

Kurdish media network (Rudaw) reported on Saturday that oil exports from the Kurdistan region of Iraq will resume within 48 hours.

The network said it had obtained information from the Iraqi Oil Ministry stating that a joint room will be formed between the Kurdistan Region’s Ministry of Natural Resources and the Iraqi Oil Marketing Company (SOMO), whose mission will be to sell the oil from the Kurdistan Region. region .

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He added that the position of deputy director of SOMO will be given to the Kurds, “in so that the Kurdish side also participates in the process of selling Iraqi oil and the Kurdistan region,” according to the Arab World News Agency.

He indicated that a meeting, which he described as positive, was held between representatives of the region and the Iraqi federal government, “and they agreed on a new mechanism to jointly sell Kurdistan region oil.”

Rudaw said, “This latest meeting will be followed by a series of other meetings for agreement, clarifying oil contracts for the Kurdistan region and finding new consumers for the region’s oil exported from the port of Ceyhan… In this way , this agreement will give guarantees to the oil producers and consumers of the Kurdistan region”.

Iraq’s Oil Ministry announced that Baghdad had won an arbitration case in the case of exporting Kurdistan region oil through Turkey to global markets, and said the decision obliges all parties to abide by international agreements and pacts in this sense.

The ministry indicated that it is “the only authorized authority” to manage export operations through the Turkish port of Ceyhan, through “SOMO”.

Earlier, Rudaw quoted a US State Department official as saying his country had urged Turkey and Iraq to resume exporting Kurdistan Region oil via pipeline linking the region and Turkey. .


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