The Kurdistan Regional Government announced on Sunday that it agreed with the federal government in Baghdad to disclaim the region’s oil exports.
A statement by the regional government, a copy of which was received by {Euphrates News}, said that “on Sunday, after communication and coordination between the Federal Ministry of Oil and the Ministry of Natural Resources of the Kurdistan Region, an agreement and confirmation was made to resume the export of the region’s oil according to the available quantities.”
“Today, a joint technical team has been formed to inspect the export pipe and indicate its readiness,” the statement added.
The regional government stressed the commitment to implement the provisions of the Federal Budget Law.
The Iraqi Ministry of Oil announced on Saturday the completion of all procedures for the export of oil produced in the Kurdistan Region through the Turkish port of Ceyhan, after a two-year pause due to differences between Baghdad and Erbil.
The oil minister unexpectedly announced on Monday the resumption of exports from Kurdistan next week in a move that would end a nearly two-year dispute that led to the interruption of supplies of more than 300,000 barrels per day entering world markets through Turkey.
Turkey suspended the pipeline in March 2023 after the International Chamber of Commerce ordered Ankara to pay $1.5 billion to Baghdad in compensation for unauthorized exports between 2014 and 2018.
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