An oil field in Kurdistan Region.
Anniversary of stoppage looming
Oil executives discuss Kurdistan export woes at Norway conference
NEWSROOM, January 29 — At a conference in Norway, executives from major oil companies discussed the slow pace of negotiations between the Kurdistan Regional Government and Baghdad over resuming oil exports.
Oil exports from the Kurdistan Region have been suspended for nearly 10 months.
Executives from DNO, Genel Energy, and Gulf Keystone shared their uncertainty about when oil exports from the Kurdistan Region might resume. These companies are contemplating increasing sales in domestic markets, despite lower prices compared to international markets, due to the prolonged halt in exports.
Officials emphasized that the Iraqi government is eager to restart oil exports from the Kurdistan Region to bolster oil revenue and possibly secure compensation from Turkey.
The suspension of oil exports from the Kurdistan Region through the pipeline to Turkey’s Ceyhan port followed a ruling last March by the International Court of Arbitration in Paris in favor of the Iraqi government. This legal decision prompted several companies to halt production in the region’s oil fields.