Economy News – Baghdad
On Sunday, the Undersecretary of the Ministry of Oil for Extractive Affairs announced that the ministry is set to receive approximately 185,000 barrels of oil per day from the Kurdistan region. This marks the initial phase following the resumption of oil exports via the Turkish port of Ceyhan, with the daily export volume expected to increase gradually to 400,000 barrels.
Khudair stated in a televised address that “recent export activities from the Kurdistan region have posed challenges for the oil fields in the area, necessitating a period of rehabilitation to regain their productive capacity. Our target is to achieve an export rate of 400,000 barrels per day, which aligns with the minimum figures stipulated in the budget.”
He further elaborated that “the current exportable quantity from the region stands at 300,000 barrels per day, of which a portion is allocated for domestic consumption, while the remaining 185,000 barrels are earmarked for export.”
In addition, Khudair highlighted that “the Ministry of Oil has recently dispatched a delegation to the region, resulting in an agreement to establish joint committees dedicated to monitoring the mechanisms for resuming oil exports.” He confirmed that “the region has expressed its readiness to commence the export process.”
He continued by stating that “technical teams from the North Oil Company, along with representatives from the Kurdistan region, are currently inspecting the oil export pipelines to verify their integrity and preparedness for resuming oil flow.”
Khudair emphasized the Ministry’s proactive approach, stating, “We have reached out to our counterparts in Turkey to assess the readiness of the pipeline designated for exports through the port of Ceyhan, and we anticipate a response within the next 24 hours.”
Moreover, he expressed the Ministry’s commitment to ensuring the continuity of export operations via the port of Ceyhan as part of a broader strategic vision for fostering relations between Iraq and Turkey. There remains ongoing communication with the Kurdistan region and Turkish authorities to facilitate cooperation and maintain export activities.
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