Economy News – Baghdad
The Minister of Oil, Hayyan Abdel-Ghani, has confirmed the operational readiness of the export pipeline to the Jihan Port. He indicated that discussions are ongoing with Turkish authorities to facilitate the resumption of exports within the next two days.
In his statement, Abdel-Ghani noted that the ministry continues its oil export activities through the southern port located in Basra. He emphasized that direct negotiations and correspondence with Turkish officials are underway concerning the resumption of exports, and he anticipates that once Turkish approval is secured, operations can swiftly recommence.
The minister expressed optimism about resuming exports in the immediate future, reassuring that the connection to the Jihan oil port is fully prepared. He acknowledged, however, that some technical adjustments are necessary before restarting the export process.
Abdel-Ghani also highlighted that the agreed-upon export volume from the Kurdistan region, as stipulated in the budget law, ranges from 300,000 to 325,000 barrels per day. He explained that a portion of this output is allocated for domestic consumption, while the remainder is designated for export.
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