Iraq PM confirms reaching agreement with KRG to resume oil exports

Iraqi Prime Minister Mohammed Shia al-Sudani announced on Thursday that the federal oil ministry will receive crude produced from fields in the Kurdistan region and export it through the Iraqi-Turkish pipeline in a “historic agreement.”

The breakthrough will allow exports to resume of about 230,000 barrels per day (bpd) from Iraqi Kurdistan which have been suspended since March 2023.

Baghdad and the Kurdistan Regional Government have been in negotiations since February to end a stand-off that has halted flows from the north of the country to Turkey’s port of Ceyhan. The KRG was producing about 435,000 barrels per day (bpd) before the pipeline closure in March 2023.