KRI President: Swift resumption of oil exports is imperative

KRI President: Swift resumption of oil exports is imperative
2023-11-13T11:21:25+00:00

Shafaq News / Kurdistan Region (KRI) President Nechirvan Barzani received the Iraqi Minister of Oil, Hayyan Abdul Ghani, and his accompanying delegation on Monday.

During the meeting, attended by the Deputy Ministers of Oil and the Minister of Natural Resources in the Kurdistan Regional Government (KRG), discussions focused on the steps and measures to resume oil exports from KRI. The relevant authorities from the federal government and KRG were engaged in talks on this matter.

President Barzani expressed his support for the discussions and steps taken by Baghdad and KRG to resolve issues and resume oil exports. He emphasized that the suspension of oil exports in the Region has caused significant losses to the overall Iraqi treasury, considering the swift resumption of exports as crucial.

Minister Abdul Ghani affirmed the serious desire of the federal government and the Iraqi Prime Minister to address the issues and resume exports. He provided a briefing on the objectives of his visit to KRI and the results of discussions with relevant authorities from both Baghdad and KRG on this matter.

He also mentioned that an agreement would be reached with KRI and oil companies, as well as Ankara, to resume oil exports from Iraq to Turkey.

On August 30th, Svein Dziy, the Head of Foreign Relations at KRG, stated that Iraq incurred losses estimated at around $5.5 billion due to the halt in oil exports from the Region.

It is noteworthy that on March 25th, the flow of oil from Iraq to the Ceyhan port in Turkey was announced to be suspended following a decision by the International Arbitration Court based in Paris regarding oil exports between Turkey and Iraq.

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