APIKUR ready to resume Kurdistan Region oil exports, open to contract modifications

SULAIMANI, Kurdistan Region — International oil companies that are members of the Association of the Petroleum Industry of Kurdistan (APIKUR) announced on Monday they are prepared for the resumption of Kurdistan Region’s oil exports, even if the agreements require amendments to the contracts.

In a statement, it asserts that trilateral talks involving the Iraqi government (GoI), the Kurdistan Regional Government (KRG), and themselves are crucial for resuming the Kurdistan Region’s oil exports.

APIKUR also rebuffs recent media reports attributing the ongoing impasse in resuming oil exports via the Iraq-Turkey pipeline to a purported inflexibility from oil firms.

The association asserts that the reports attribute the halt in talks regarding the resumption of oil exports to an “intransigent position” adopted by the International Oil Companies (IOCs).

“However, no joint discussions between IOCs and representatives of the KRG and the GoI have occurred since January 7-9, 2024,” reads the statement.

Despite ongoing discussions to restart oil exports, which have been halted for over 14 months, there is currently no clear indication of when exports will resume.

“APIKUR’s member companies believe tripartite talks between Government of Iraq, Kurdistan Regional Government, and international oil companies are the best way to find solutions that will lead to the resumption of ITP exports,” said Myles B. Caggins III, spokesman for APIKUR.

APIKUR asserts that its member companies are prepared to recommence exports, provided that agreements are reached ensuring “payment security for both past and future exports, direct payment, and the preservation of commercial terms.”

Furthermore, the association asserts that if such agreements necessitate modifications to current contracts, they are open to considering this possibility, provided there is mutual agreement among the three parties.

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