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Following the call for an “urgent meeting” between Baghdad and Kurdistan... an expert reveals the possibility of exporting the region’s oil soon
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Baghdad today - Baghdad
Today, Thursday (May 30, 2024), the expert in oil affairs and energy affairs advisor in the Patriotic Union of Kurdistan, Bahjat Ahmed, revealed the possibility of resuming the export of the region’s oil through the Turkish port of Ceyhan after the Iraqi Ministry of Oil invited the Ministry of Wealth in the regional government to meet quickly .
Ahmed said in an interview with "Baghdad Today", "The export of oil is not in the hands of the Iraqi Oil Ministry or the Ministry of Natural Resources in the regional government, but rather in the hands of other parties, most notably the Turkish side and foreign companies working in the field of oil within Kurdistan."
He added, "There are no technical problems in the port of Ceyhan that would prevent the resumption of oil exports, and if Turkey agrees to the resumption, it is possible to re-export 480,000 barrels of oil per day."
He stated that "the first obstacle is that Turkey wants to resolve the issue of compensation demanded by the Iraqi government, which won the lawsuit it filed against the Turkish side, and the court decided to impose a compensation amount that Ankara must pay to Iraq, estimated at one billion and 471 million dollars."
Therefore, Turkey wants to waive this amount by the Iraqi government as a first step to re-exporting the region’s oil, and it also wants to reduce the price of Kurdistan’s oil, as Turkey used to buy the region’s oil for about $40 per barrel, while its price now exceeds $80 .
He pointed out that "the other obstacle is foreign oil companies that cannot work in the region currently, because there is a legal problem that prevents their work, as the Federal Court in February 2022 canceled all contracts that the Kurdistan government signed with those companies."
The Federal Ministry of Oil addressed the Ministry of Wealth in Kurdistan, holding an urgent meeting with the Ministry of Natural Wealth in the Kurdistan Region and the operating companies, to accelerate the resumption of production and export of Kurdistan oil through the Turkish port of Ceyhan .
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