Iraq’s Ministry of Oil Confirms Resumption of Kurdistan Oil Exports
Date: February 22, 2025
The Ministry of Oil has officially announced the completion of all necessary procedures for resuming oil exports produced in the Kurdistan region through the Jihan port. This resumption is in accordance with the mechanisms outlined in the budget law and its amendments, as well as aligning with Iraq’s specified production ceiling set by OPEC.
In a recent statement, the Ministry detailed that the mechanisms conform to the regulatory framework established in the budgetary provisions and maintain compliance with the production limits mandated by OPEC for Iraq.
To facilitate the export process, the Ministry has called upon the authorities in the Kurdistan region to ensure the delivery of oil quantities from operating fields to the national oil marketing company. This step is crucial for initiating exports via the Iraqi-Turkish pipeline and the port of Jihan, in line with existing contracts with designated companies.
The Ministry’s actions reflect ongoing efforts to stabilize oil exports, a significant factor in Iraq’s economic framework and adherence to international agreements regarding production levels.
This development is anticipated to have important implications for Iraq’s revenue generation and economic sustainability as it continues to navigate the complexities of the global oil market.