Economy

APIKUR welcomes Iraqi Parliament’s proposal on oil export amendments, ready to resume exports

In a statement, APIKUR member companies commended the proposal and noted that the suggested changes could address their longstanding requests.

APIKUR Logo. (Photo: Designed by Kurdistan24)
APIKUR Logo. (Photo: Designed by Kurdistan24)
Kurdistan APIKUR Resumption of KRG's Oil Exports Iraq-Turkey Pipeline

ERBIL (Kurdistan24) — The Association of the Petroleum Industry of Kurdistan (APIKUR) on Thursday expressed optimism regarding the recent proposal from the Iraqi Parliament to amend Article 12 of the Budget Law, a step seen as potentially facilitating the resumption of oil exports via the Iraq-Turkey Pipeline (ITP).

In a statement, APIKUR member companies commended the proposal and noted that the suggested changes could address their longstanding requests. These requests relate to establishing favorable commercial terms and ensuring secure payment arrangements for both past and future exports. APIKUR emphasized the importance of these guarantees for continued collaboration and economic stability.

"We remain ready to engage in productive discussions with officials from both the Government of Iraq and the Kurdistan Regional Government to finalize necessary agreements," APIKUR stated. The association highlighted the need to clarify certain details in the amended law to solidify the framework for resuming oil exports through the ITP.

APIKUR further aligned with statements from Iraqi Prime Minister Mohammed Shia' al-Sudani and Kurdistan Region Prime Minister Masrour Barzani, both of whom have emphasized the mutual benefits of resuming oil exports for the people of Iraq. The association underscored that a timely agreement would enhance revenue flows and strengthen the energy sector's role in Iraq’s economy.

The restoration of oil exports through the ITP remains a significant objective, promising economic gains for both the Kurdistan Region and Iraq as a whole, as stakeholders move closer to resolving key issues in the export framework.