Iraqi MP attributes Kurdish oil export stalemate to political reluctance

Iraqi MP attributes Kurdish oil export stalemate to political reluctance
2024-08-07T17:39:39+00:00

Shafaq News/ Some political entities and individuals within Iraq’s federal oil ministry are not serious about resuming the export of oil from the Kurdistan region via the Turkish Ceyhan pipeline, according to Nahro Mahmoud, a member of the parliamentary oil and gas committee.

Since the cessation of Kurdistan oil exports on March 24, 2024, the federal oil ministry has compensated for the Region's 400,000 barrels per day (bpd) from southern governorates to maintain Iraq's OPEC export quota, Mahmoud noted.

OPEC has allocated Iraq the right to export 3.5 million bpd, meaning the southern governorates' contribution has not affected Iraq’s overall oil export levels, Mahmoud explained.

“If an agreement is reached between the federal government and the Regional Government to resume Kurdistan’s oil exports, the federal government must reduce 400,000 bpd from the south to accommodate the Regional exports.”

He also highlighted a sticking point: Baghdad and Erbil have yet to agree on the production cost per barrel for oil companies operating in the Kurdistan Region, further complicating the resumptionofexports.

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