SULAIMANI, Kurdistan Region — The Kurdistan Regional Government (KRG) announced that during a tripartite meeting held earlier this week in Baghdad with the Iraqi Oil Ministry and international oil companies, the KRG delegation emphasized the urgent need to resume Kurdistan’s oil exports through the Iraqi State Organization for Marketing of Oil (SOMO).
According to a statement released by the KRG following its Wednesday meeting, the revenues from these exports should be directed to the Iraqi public treasury in alignment with the constitution and the public interest.
The KRG emphasized the urgent need to “establish measures and mechanisms to overcome the obstacles hindering the resumption of oil exports and to reach a comprehensive agreement on the matter as soon as possible.”
The KRG statement emphasized the efforts to expedite the resumption of oil exports through SOMO. The revenue from these exports will be deposited into the Iraqi public treasury to support the country’s expenditures. This measure aims to mitigate the financial damage caused to both the Iraqi and Kurdistan treasuries by the halt in oil exports.
The KRG also stressed its unwavering commitment and readiness to facilitate any work in this regard, in accordance with constitutional principles, powers, and the public interest. It highlighted that meetings will continue within this framework.
Following the meeting, Peshawa Hawramani, spokesperson for the KRG, stated in a press conference that no agreement has been reached yet regarding the resumption of oil exports, adding that the primary unresolved issue is the cost of oil production. He further mentioned that negotiations among the KRG, the Iraqi Government, and oil firms will continue after Eid al-Adha with the aim of reaching a final agreement.
Oil exports from the Kurdistan Region via Turkey’s Ceyhan port have halted following a ruling from the Paris-based International Court of Arbitration. The court determined that Turkey violated a 1973 treaty by permitting these exports without Baghdad’s approval. This breach has led to the Kurdistan Region losing billions of dollars, which constitute its main source of income.
