APIKUR: Pausing the export of KRG oil has billion dollar cost to Iraqi economy

ERBIL (Kurdistan 24) – Association of the Petroleum Industry of Kurdistan (APIKUR) announced in a statement that no agreement has been reached among the government of Iraq (GoI), Kurdistan Regional Government (KRG) and international oil companies (IOCs) for the resumption of KRG’s oil export.

In the statement, APIKUR points to the several unfounded media statements by senior officials of government of Iraq with regard to the deal with international companies for resuming exports of oil through Iraq-Turkey pipeline (ITP).

The association also highlighted that, “We do not understand the motivation for such misinformation but note that Iraq is reportedly losing $1 billion for each month that ITP remains closed.”

The statement clarifies that APIKUR and its member companies would welcome the resumption of oil export through ITP. “Regrettably, to date, we have not even seen any proposals from GoI or KRG for the agreements that would be required to do so,” it read.

Meanwhile, APIKUR’s members attended a meeting in Baghdad on Jan. 7-9, where representatives of the Kurdistan Regional Government, Government of Iraq and international oil companies met to discuss the topic of KRG oil export and its recommencement.

However, the association underlined in the statement that, “But, thus far, there has been no concrete progress towards that end presented to the members of APIKUR.”

Additionally, the statement remarks that the member companies in APIKUR remain ready to hold meeting with both the KRG and the GoI officials to find a quick solution which could be beneficial to all parties involved.

The export of Kurdish oil has been halted since March 25 after Iraq claimed victory against Turkey at a Paris-based international court for allowing independent Kurdish oil exports.