Oil deal signed between Iraq and KRG

The Iraqi government and the KRG signed an agreement to start oil exports to Turkey.

Iraqi Prime Minister Mohammed Shia al-Sudani and KRG Prime Minister Masrour Barzani met in the capital Baghdad.

The duo held a press conference after the meeting. Stating that an agreement has been reached with the KRG for the resumption of oil exports, Sudani demanded that the relevant technical commissions immediately start working on the implementation of the agreement.

INTERIM AGREEMENT

KRG Prime Minister Barzani stressed that this agreement is temporary but an important step to end the longstanding conflict between Erbil and Baghdad.

Barzani added that this new agreement creates a positive and secure environment for the ratification of the national oil and gas law. A detailed explanation of the content of the agreement has not yet been given.

THE FLOW WILL START FROM THE REGION TO Türkiye

KRG foreign media relations officer Lawk Ghafuri announced on his Twitter account that Barzani will go to the capital Baghdad to sign the final agreement with the Iraqi prime minister on the continuation of oil exports through the Ceyhan port.

The KRG official said: “Oil exports from the region through Ceyhan will start again today.” Barzani also shared on his Twitter account: “I am going to Baghdad to finalize our agreement on the resumption of oil exports from the Iraqi Kurdish region.”

‘IF NO OIL IS SENT, THE BUDGET WILL BE A PROBLEM’

After the decision of the Paris-based International Court of Arbitration on oil exports between Turkey and Iraq, it was reported that the flow of oil from Iraq to the port of Ceyhan was stopped on March 25.

In his statement to the AA correspondent, the KRG’s prime minister’s adviser, Bevar Hinsi, stated that under the Iraqi budget bill, the KRG government should ship 400,000 barrels of oil per day, saying: “For Therefore, if the KRG oil is not shipped, the Iraqi budget bill will also become problematic.” (AA)