Economy Update – Baghdad
Turkish Energy Minister Alp Arslan Bayrakdar stated on Wednesday, February 19, 2025, that Turkey has not received any updates from Iraq regarding the resumption of oil flow through the Iraq pipeline. “We have not yet received any information from Iraq regarding the resumption of oil flow through the Iraq pipeline,” Bayrakdar remarked.
Meanwhile, Iraqi Oil Minister Hayyan Abdul-Ghani announced last Monday that oil exports from the semi-autonomous Kurdistan region of Iraq are set to resume within the next week. This announcement follows a prolonged period of nearly two years in which Kurdish oil exports were disrupted, coinciding with a recent thaw in relations between Baghdad and Erbil.
The cessation of oil flows by Turkey started in March 2023, a direct response to an order from the International Chamber of Commerce for Ankara to compensate Baghdad with $1.5 billion for unauthorized oil exports conducted by the Kurdistan Regional Government through Turkish pipelines from 2014 to 2018.
“Tomorrow, a delegation from the Ministry of Oil will travel to the Kurdistan region to negotiate the mechanisms for receiving and exporting oil from the region. The export is expected to resume within a week,” the minister added.
For further updates, subscribe to our channel on Tilekram.