MEOG: Deal struck to reinstate Iraq exports

Iraq’s semi-autonomous Kurdistan region has announced an agreement with Baghdad to restart oil exports via Turkey this week.

“Following several meetings between the Kurdistan Regional Government & Federal Government, an initial agreement has been reached to resume oil exports through Ceyhan this week,” Lawk Ghafuri, the KRG’s head of foreign media affairs, said in a tweet.

He added: “This agreement will remain in effect until the oil and gas law bill is approved by Iraqi Parliament.”

Turkey closed the pipeline that connects northern Iraq to its Mediterranean port of Ceyhan in late March after an international arbitration tribunal ruled that KRG authorities should refrain from exporting oil from the Turkish terminal without Baghdad’s consent.

The resumption would mean more than 400,000 barrels per day (bpd) of Iraqi oil exports flowing through Turkey and the deal would remain in effect until an oil and gas law is approved by the Iraqi parliament, Ghafuri added.

The resumption requires approval from Turkey with a KRG official telling Reuters that “a letter of request to resume oil flows will be sent by Baghdad to Ankara.”