Oil Minister Outlines Plans for Resuming Exports from Jihan Port
The Minister of Oil, Hayyan Abdel-Ghani, announced on Monday the preparedness of the export pipeline to Jihan Port, indicating ongoing discussions with Turkish officials aimed at resuming oil exports within the next two days.
In his statements, Abdel-Ghani confirmed that oil exports are currently continuing through the southern port located in Basra. He emphasized that the ministry is actively engaged in communications with Turkey to facilitate the resumption of exports, stating, "The moment we receive the Turkish authorities’ approval, exports will recommence."
He expressed optimism regarding the timeline for this resumption, projecting that exports could restart within the next 48 hours. Abdel-Ghani noted that the export pipeline to Jihan is fully operational but requires some technical adjustments before exports can resume.
The Minister also highlighted the agreed export volumes from the Kurdistan region as delineated in the budget law, which are set between 300,000 and 325,000 barrels per day. A portion of this output is designated for domestic consumption, while the remainder is allocated for export.
This initiative is crucial for Iraq’s economy, particularly in light of the country’s reliance on oil revenues. Further updates on the progress of these discussions with Turkey and the export resumption are anticipated in the coming days.
