🛢️ Baghdad and Erbil Reach Agreement on Oil Export Mechanism; Resumption Dependent on Iraq’s Talks with Turkey 🇮🇶🇹🇷
Date: August 13, 2025 | Source: Mawazine News
The Kurdistan Region’s Ministry of Natural Resources announced an agreement with Iraq’s Federal Ministry of Oil on the mechanism for exporting oil from Kurdish fields.
The agreement was signed by 23 delegates from both sides, including 17 from Iraq’s Ministry of Oil.
After intensive negotiations and technical assessments since July 17, it was agreed that exports will be based on daily production from the Kurdistan Region’s fields.
50,000 barrels per day will be reserved to cover local needs, with the remainder delivered to the state-owned SOMO Marketing Company.
The resumption of exports depends on ongoing talks between the Iraqi federal government and Turkey to ensure effective implementation.
🔗 Original source: Mawazine News