Kurdistan Oil Export Resumption Boosts Share Prices of Foreign Investors

This upward trend in share prices signals renewed confidence in the Kurdistan Region's oil industry, highlighting its importance in regional energy markets.

A worker is seen at the Tawke oil refinery. (Photo: AFP)
A worker is seen at the Tawke oil refinery. (Photo: AFP)

Feb. 4, 2025

ERBIL (Kurdistan24) - The recent approval of Iraq's budget law amendment, facilitating the resumption of oil exports from the Kurdistan Region, has led to a significant increase in the share prices of foreign companies operating in the region's energy sector.

This development reflects growing investor confidence in the stability and profitability of Kurdistan's oil market.

Following the Iraqi Parliament's decision on Sunday, major oil firms with operations in the Kurdistan Region experienced notable gains.

Norwegian oil company DNO, which operates in the Tawke and Baeshiqa fields, saw its stock price rise from $11.89 to $13.87.

Similarly, Genel Energy, a key player in the region's energy market with production from the Taq Taq, Tawke Fishkhabur, and Sarta fields, recorded an increase in share value from $57 to $70.

Market analysts predict that with the full implementation of the amendment and the resumption of Kurdistan's oil exports, these companies will likely see continued stock appreciation, boosting investor returns and encouraging further capital inflows into the region's oil sector.

This upward trend in share prices signals renewed confidence in the Kurdistan Region's oil industry, highlighting its importance in regional energy markets.

The anticipated revival of oil exports is expected to bring economic benefits not only to investors but also to local stakeholders involved in the sector.

Read More: Iraqi Parliament Approves Budget Amendment, Clearing Path for Kurdistan Oil Exports

Read More: Iraq Moves Closer to Finalizing Kurdistan Oil Export Agreement

The Association of the Petroleum Industry of Kurdistan (APIKUR), representing international oil companies operating in the region, welcomed the Iraqi Parliament's budget law amendment.

 APIKUR's spokesperson, Myles Caggins, stated that the association "remains focused on reaching agreements to restore oil exports through the Iraq-Turkey Pipeline."

Read More: ‘APIKUR Welcomes the Iraqi Parliament Budget Law Amendment,’ Spokesperson

Furthermore, Shakhawan Abdullah, the Deputy Speaker of the Iraqi Parliament, announced that there are no longer any legal obstacles to oil exports from the Kurdistan Region, paving the way for the resumption of exports.

Read More: There are no longer any legal obstacles to Kurdistan Region oil exports, says Iraqi Parliament Deputy Speaker

These developments underscore the collaborative efforts between the federal and regional governments to stabilize and enhance the region's oil industry, fostering a more favorable environment for foreign investment.