5/28/2024–|Last updated: 5/28/202411:43 PM (Mecca time)
The Iraqi Ministry of Oil said in a statement on Tuesday that it calls for holding a meeting “as soon as possible” with the Kurdish Ministry of Energy and international companies operating in the Kurdistan region of Iraq in efforts to reach an agreement on resuming oil exports through the Turkish port of Ceyhan.
The export of oil through the pipeline between Iraq and Turkey – which transported about 0.5% of global oil supplies – has been halted due to legal and financial obstacles since March 2023, and talks to resume exports have stopped.
The sharing of oil revenues between the Iraqi federal government and the Iraqi Kurdistan region was a cause of tension between the two sides.
The flow of oil through the pipeline stopped after the Paris-based International Chamber of Commerce ruled that Turkey violated the terms of the 1973 agreement by facilitating oil exports from the Iraqi Kurdistan region without the approval of the Iraqi government in Baghdad.
