ERBIL — Officials from the Kurdistan Regional Government (KRG) and the Iraqi federal government on Monday continued their meetings in Erbil to discuss the resumption of oil exports from the Kurdistan Region.
In a statement, the KRG’s Department of Media and Information reported that Kamal Mohammed, the acting Minister of Natural Resources for the Kurdistan Region, met with Iraqi Oil Minister Hayan Abdel-Ghani to address the mechanisms for restarting oil exports through Turkey’s Ceyhan port.
This marks the second meeting on this matter, following the initial session held on Sunday, during which both parties agreed to resume oil exports from the Kurdistan Region and establish the necessary procedures.
The pause in oil exports began on March 25th of this year after an International Chamber of Commerce (ICC) arbitration ruling in France.
The ruling led to Turkey halting Kurdistan's crude oil exports of 450,000 barrels per day through a pipeline to the Turkish port of Ceyhan. The ICC directed Turkey to pay $1.5 billion in damages to Baghdad, citing unauthorized exports by the Kurdistan Regional Government (KRG) from 2014 to 2018.
This decision has presented financial hardships for the Kurdistan Region, affecting public sector salaries and impeding the progress of development projects, given its reliance on revenue from crude oil exports.