SULAIMANI, Kurdistan Region – The Kurdistan Regional Government’s (KRG) Ministry of Natural Resources has welcomed the recent budget amendment on oil extraction and transportation costs, calling it a positive step toward resolving the ongoing oil export dispute. The ministry urged Iraq’s Ministry of Oil to implement the amendment and resume oil exports.
In a statement, the KRG ministry described the approval of the budget law amendment as a key development in addressing the oil issue. It expressed hope that this move would pave the way for a new phase of cooperation, urging the Federal Ministry of Oil to take necessary technical measures to facilitate the process.
On Sunday, the Iraqi parliament amended the budget law, including provisions related to Kurdistan Region’s oil exports. Under the amendment, Kurdistan Region oil exports to Iraq’s State Organization for Marketing of Oil (SOMO) will resume at a cost of $16 per barrel.
Oil exports from the Kurdistan Region have been suspended for nearly two years after an arbitration court ruled against Turkey, deeming the Region’s exports through Turkey’s Ceyhan port illegal. The amendment aims to resolve disputes and reintegrate Kurdistan’s oil exports into Iraq’s federal framework.