Kurdistan to Restart Crude Exports – Iraqi Kurdistan authorities have reached an agreement with Iraq’s federal oil ministry to resume crude exports, marking a major step in resolving a long-standing oil dispute.

  • A joint Iraqi and Turkish technical team are conducting final inspections of the Iraq-Turkey pipeline, with a decision on its operational status expected within 24 hours for shipments to Turkey’s Ceyhan port.

  • The suspension followed a 2022 ruling by the International Chamber of Commerce, which sided with Iraq in a legal battle over the Kurdish region's independent oil exports.

  • Iraq’s Oil Ministry confirmed the first phase of resumed exports will see 185,000 barrels per day (bpd) sent to Turkey, with plans to gradually increase volumes to 400,000 bpd.

  • Deputy Oil Minister Bassem Mohammed noted that restoring full production capacity will be a gradual process.

  • Kurdistan’s Output Capacity at 300,000 bpd – The region currently produces 300,000 bpd, with 185,000 bpd allocated for exports and the remainder used domestically.

iraq turkey oil pipeline kurkuk ceyhan
Source: Forex Live