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Kurdistan’s oil exports to resume 'in coming hours’: oil ministry

4 minutes ago

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ERBIL, Kurdistan Region - Iraq’s oil minister on Friday said the resumption of Kurdistan Region’s oil exports will be announced “in the coming hours,” nearly two years after they were suspended.

“Iraq will announce in the coming hours the commencement of the Region’s oil export operations” through the State Oil Marketing Organization (SOMO) via Turkey’s Ceyhan port, Oil Minister Hayyan Abdul Ghani said in a statement from his ministry.

Exports will begin at a rate of 185,000 barrels per day and gradually increase to the level set in the federal budget, according to the ministry statement.

Starting to claw back early losses

Bloomberg

@business

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2m

Iraq’s oil minister said he’s hoping crude oil exports from the country’s northern Kurdistan region will restart in two days after it was halted almost two years ago

hTTps://www.bloomberg.com/news/articles/2025-02-24/iraq-minister-hopes-kurdistan-oil-exports-to-resume-in-two-days?utm_content=business&utm_campaign=socialflow-organic&utm_medium=social&utm_source=twitter&cmpid=socialflow-twitter-business

Https://x.com/FirstSquawk/status/1893952272151015827 IRAQ IS WAITING FOR TURKEY'S APPROVAL TO RESTART OIL FLOW, KURDISH OIL EXPORTS WILL HOPEFULLY BE READY IN TWO DAYS, OIL MINISTER TELLS REPORTERS

Will be up before end of day.

Do you have any names of other tankers that were regular visitors when oil was being produced 2 years ago.

Thanks for your previous 2 posts.

I think Itsa meant £90 😂

From ADVFN

@AlaliQasem

#GKP The amendments to the Iraqi Federal Budget Law regarding Kurdistan Region’s oil extraction and costs have been published in the official Iraqi Gazette, clearing the way for the resumption of oil exports. #Iraq #Kurdistan #OilExports

@john78846295

Budget amendment ratified by Iraqi President ahead of being published in the Gazette on Tuesday.... next up news from IOCs, KRG and SOMO once negotiations have finished...

JUST IN: Iraqi President Abdul Latif Rashid has ratified the amendments to the Iraqi Federal Budget Law.

The amendments centered around the Kurdistan Region's oil drilling and production price.

Main points from Shafaq article 2 posts below

The Iraqi Parliament recently amended the national budget, increasing compensation for oil production and transportation from $6 to $16 per barrel. Hussein said this adjustment has improved the chances of resuming exports “as soon as possible”, with oil companies agreeing to the temporary rate.

“Once the pipeline is ready and oil companies are prepared, exports can resume,” Hussein stated. “Until the actual costs are assessed, the rate will remain at $16 per barrel, subject to revision following a third-party audit.”

Hxxps://x.com/john78846295/status/1885680846662737978

Tasmin Alliance (9 seats) voting favour and 'that there is a trend among the majority of political forces to pass the amendment of the federal budget'.

"Objections by the representatives of the Central and Southern Front, which includes more than ten representatives and a number of other members of the Council, will not have a significant impact on the passage of the amendment".

Vote expected on 28 th

https://www.spglobal.com/commodity-insights/en/news-research/latest-news/crude-oil/012725-iraq-turkey-oil-pipeline-standoff-continues-ahead-of-budget-law-vote An Iraqi Kurdish delegation will meet with the Iraqi finance minister in Baghdad on Jan. 27 as the dispute continues over the Iraqi budget law, on which hope hinges to resume crude exports through the Iraq-Turkey pipeline.

A vote is expected on Jan. 28 on the 2025 Iraqi budget law after efforts to amend the law were fumbled again on Jan. 23, when Iraq's council of representatives failed to vote on the amendment, according to a statement from the government in semiautonomous Iraqi Kurdistan.

Iraqi PM announces resolution of Kurdistan Region salary issue

“The salary issue of the Kurdistan Region civil servants has been resolved,” al-Sudani stated, signaling an end to one of the region’s long-standing challenges in its financial disputes with Baghdad.

1 day ago

Iraqi Prime Minister Mohammed Shia al-Sudani (right) and Kurdistan24 correspondent Dlovan Emadaldin, Jan. 16, 2025. (Photo: Kurdistan24)Iraqi Prime Minister Mohammed Shia al-Sudani (right) and Kurdistan24 correspondent Dlovan Emadaldin, Jan. 16, 2025. (Photo: Kurdistan24)

Kurdistan

Mohammed Shia al-Sudani

Kurdistan Region civil servants

ERBIL (Kurdistan24) — Iraqi Prime Minister Mohammed Shia al-Sudani announced the resolution of the salary issue for Kurdistan Region civil servants during an exclusive interview with Kurdistan24 correspondent Dlovan Emadaldin on Thursday.

“The salary issue of the Kurdistan Region civil servants has been resolved,” al-Sudani stated, signaling an end to one of the region’s long-standing challenges in its financial disputes with Baghdad.

On the subject of oil agreements, the Prime Minister revealed that discussions were ongoing during his visit to the United Kingdom. “My delegation is accompanying me in London and is aware of the oil agreements,” he said, emphasizing Iraq’s commitment to addressing international energy matters.

Al-Sudani also touched on Iraq’s geopolitical challenges, highlighting the nation’s stance on the Palestinian issue. “Iraq is going through a difficult situation because of its stance on the Palestinian issue, and they have been victims because of that stance,” he explained, pointing to the broader consequences of Iraq’s foreign policy in the region.

The Prime Minister is in London as part of a diplomatic and economic mission to strengthen bilateral ties and address pressing issues facing Iraq.

ERBIL (Kurdistan24) - The Baghdad Karkh Appeals Court has dismissed a lawsuit filed by Iraq's Federal Oil Ministry seeking to nullify oil contracts established by the Kurdistan Regional Government (KRG), marking an important legal victory for the Kurdistan Region's energy sector.

Sabah Subhi, a member of the Iraqi Parliament's Oil and Gas Committee, told Kurdistan24 that the court not only dismissed the ministry's petition but also overturned several 2022 ministerial decisions that had previously stated KRG's oil contracts void.

The lawsuit aimed at nine prominent oil companies operating in the Kurdistan Region: Addax, Dana Gas, DNO, Gazprom Neft, Genel Energy, Gulf Keystone, HKN Energy, Shamaran, and Western Zagros.

As said by Subhi, the Federal Oil Ministry has a 30-day window to appeal the court's decision. Should the ministry decide not to challenge the ruling within this period, the case will be permanently closed.

The parliamentary committee member highlighted the broader ramifications of this ruling, observing that it serves as a strong encouragement for existing operators in the Kurdistan Region's oil and gas sector to increase their investments and operations.

Moreover, the decision is likely to improve the Kurdistan Region's attractiveness to new international energy companies considering market entry and investment.

This legal development signifies a vital turning point in the ongoing dialogue between Baghdad and Erbil concerning the management of Kurdistan Region's hydrocarbon resources, potentially paving the way for improved stability in the region's energy sector.

If you can’t get someone to check in on ADVFN latest.

Was Thursday but finance ministry didn’t turn up got a gut feeling tomorrow is the day.

👍

In negotiations ??

INVESTING

Commodities

News Wire
3h ago
Kurdish Oil Exports Stay Halted as Iraq Negotiates With Turkey
Kadhim Ajrash and Khalid Al-Ansary, Bloomberg News

Excess fluid sits on the rim of a barrel of oil based lubricant at Rock Oil Ltd.'s factory in Warrington, U.K., on Monday, March 13, 2017. Oil declined after Saudi Arabia told OPEC it raised production back above 10 million barrels a day in February, reversing about a third of the cuts it made the previous month. Photographer: Chris Ratcliffe/Bloomberg
Excess fluid sits on the rim of a barrel of oil based lubricant at Rock Oil Ltd.'s factory in Warrington, U.K., on Monday, March 13, 2017. Oil declined after Saudi Arabia told OPEC it raised production back above 10 million barrels a day in February, reversing about a third of the cuts it made the previous month. Photographer: Chris Ratcliffe/Bloomberg , Bloomberg
(Bloomberg) -- Oil exports from the Kurdistan region of Iraq remain halted as Baghdad negotiates with Turkey’s government in an attempt to reopen a pipeline linking the two countries, said an Iraqi official.
Ankara was ordered last month to pay Iraq $1.5 billion in net compensation by an international business tribunal for allowing crude from Kurdistan to be exported without Baghdad’s consent. Turkey hasn’t commented on the amount, but officials from the country said they want to negotiate the settlement.

In the meantime, a pipeline that ordinarily moves 400,000 barrels a day from northern Iraq to the Mediterranean port of Ceyhan is shut.
Baghdad is engaged in talks with Ankara, along with parallel negotiations with the Kurdistan Regional Government’s Ministry of Natural Resources, the Iraqi official said, asking not to be named because the information was private. The regional and federal governments of Iraq signed an agreement aimed at reopening the pipeline earlier this month, but some details of how oil from the semi-autonomous region will be sold are unresolved.
While the crude flows are halted, Turkey has said it is carrying out maintenance work on a stretch of pipeline on its side of the border, along with some oil-storage tanks, according to the Iraqi official.
The Turkish government hasn’t yet elaborated on whether it is seeking to reduce the $1.5 billion compensation award, or determine a mechanism for how to make the payments.
--With assistance from Verity Ratcliffe.
©2023 Bloomberg L.P.

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