Minister of Oil Hayan Abdel-Ghani stated that discussions with Kurdistan region officials and representatives of international companies operating there have made progress toward an agreement to restart oil exports through a pipeline to the Turkish port of Ceyhan.
The pipeline between Iraq and Turkey, once responsible for about 0.5% of global oil supplies, has been inactive for over a year due to legal and financial challenges.
A meeting took place in Baghdad on Sunday, attended by Iraq’s Oil Minister Hayan Abdul Ghani and officials from Kurdistan’s Ministry of Natural Resources.
The meeting follows Iraq’s recent call for Kurdish authorities and international energy companies to discuss resuming exports.
The talks will address two main issues: revising the Kurdistan Regional Government’s (KRG) production-sharing energy contracts as requested by Baghdad, and addressing the oil production costs claimed by foreign oil companies operating in the Kurdistan region.
