Meetings on Kurdistan Oil Fail to Yield Agreement
The recent tripartite meeting involving the Ministry of Natural Resources of the Kurdistan Regional Government, representatives from oil production companies operating in the region, and the Federal Oil Ministry in Baghdad concluded without reaching a consensus.
Lack of Agreement
A participant in the meeting reported that no agreement was made among the attendees. The discussions did not bridge the existing gaps regarding the management and distribution of oil revenues.
Call for Transparency
Miles Kagins, spokesperson for Eiberkor, emphasized the necessity for transparency and fairness in the treatment of oil companies in the Kurdistan Region. He stated that these companies should be afforded the same considerations and operational clarity as those in the rest of Iraq. Companies operating in Iraq have well-defined procedures for revenue collection, which should also apply to firms in Kurdistan.
Oil Export Developments
Oil Minister Hayyan Abdel-Ghani recently announced plans to activate the oil export pipeline to the Turkish port of Ceyhan. This development could facilitate an increase in exports, particularly from Basra oil.
Historical Context
It is important to note that on March 25, 2023, oil exports exceeding 450,000 barrels per day from the Kurdistan and Kirkuk regions were halted. This suspension occurred following a ruling by the International Chamber of Commerce, which determined that Turkey had breached a 1973 agreement with Iraq by exporting oil from the Kurdistan Region without the Iraqi government’s approval.
The discussions held in Baghdad illustrate the ongoing complexities in the governance of oil resources between the Kurdistan Regional Government and the Iraqi federal authorities, as stakeholders continue to navigate the implications of both local and international legal frameworks in the oil sector.
