Completion of Procedures for Resumption of Oil Exports from Kurdistan
The Federal Ministry of Oil has confirmed that it has finalized the necessary procedures to resume the export of oil extracted from the Kurdistan region through the port of Jihan. This action aligns with the frameworks established in the budget law and its amendments, while adhering to Iraq’s production ceiling as defined by OPEC.
Requirements for Export
The Ministry of Oil has mandated that the authorities in the region must transfer the volumes produced from operating oil fields to the Iraq Oil Marketing Company. This transfer is crucial for initiating exports via the Iraqi-Turkish pipeline and through the port of Jihan, in accordance with the contracts previously established with selected companies.
Date of Announcement: February 22, 2025
This resumption of exports is a significant development for the region’s economy and Iraq’s oil sector, showcasing the government’s commitment to adhering to international agreements while leveraging the production capabilities of the Kurdistan region.
