An oil field in Kurdistan Region.
Following nearly two-year halt
Iraqi parliament passes budget law amendments paving way for Kurdistan oil exports
BAGHDAD – The Iraqi parliament passed amendments to the federal budget law for fiscal years 2023, 2024, and 2025, paving the way for the potential resumption of oil exports from the Kurdistan Region.
Lawmaker Narmin Maarouf, a member of Iraq’s parliamentary finance committee, told 964media that the budget law amendments were approved during a session on Sunday.
“According to the amendments, Kurdistan Region’s oil exports through Ceyhan port are set to resume, but sales will be conducted through [Iraq’s] State Oil Marketing Organization,” Maarouf said.
Oil exports from the Kurdistan Region via Turkey’s Ceyhan port were halted on March 25, 2023, following an international arbitration ruling in Paris against Turkey in a case filed by Iraq.
Iraqi Parliament Deputy Speaker Shakhawan Abdullah stated on his Facebook account, “Thanks to God, the parliament has voted to approve the budget law amendments. There is no excuse in the way of the resumption of the Kurdistan Region’s oil exports and the transfer of its budget.”
In November 2024, Iraq’s Council of Ministers approved a proposal to address compensation for the production and transportation costs of oil from the Kurdistan Region. Although the final rate had not yet been set, Baghdad has suggested an initial advance payment of $16 per barrel. This proposal was approved in today’s parliament session.
