APIKUR calls for swift resumption of Kurdistan oil exports

Shafaq News / The Kurdistan Oil Industry Association (APIKUR) urged on Thursday the swift resumption of the region's oil exports through the Turkish port of Ceyhan, which have been suspended for nearly four months following a ruling by the International Court of Paris in response to a claim by the Iraqi government.

Comprised of prominent companies including DNO, Genel Energy, Gulf Keystone Petroleum, HKN Energy, and Shamaran Petroleum, the Kurdistan Oil Industry Association announced a reduction in its spending plans within the Kurdistan region by approximately $400 million in the year 2023. Moreover, the spending plans for the year 2024 are currently under review, as stated in their official statement today.

"Without a confirmed timeline for the resumption of oil exports, the association's members were compelled to take cost-cutting measures, leading to the termination of hundreds of employees," the statement further noted.

Approximately 1,700 employees within the Kurdistan Oil Industry Association are citizens of the Kurdistan region, including university graduates and professionals.

APIKUR was established by international oil and gas companies operating in the Kurdistan region with the objective of developing the region as an attractive hub for international oil and gas companies, service providers, and investors.

Since March 25, oil exports from the Kurdistan region through the Turkish port of Ceyhan have been suspended following a lawsuit filed by the Iraqi Ministry of Oil at the International Chamber of Commerce in Paris.