KRG Ministry of Natural Resources Announces Oil Exports to Resume Within 48 Hours
The Federal Oil Ministry confirmed the agreement, explaining that all crude produced in the Kurdistan Region will be handed over to the State Oil Marketing Organization (SOMO), which will manage exports to global markets.
ERBIL (Kurdistan24) — The Kurdistan Regional Government (KRG) Ministry of Natural Resources announced on Thursday that oil exports from the Kurdistan Region will resume within the next 48 hours, following a landmark agreement with the Federal Ministry of Oil and international oil companies.
According to the ministry’s statement, the deal paves the way for crude exports to restart through Turkey’s Ceyhan port after more than two years of suspension.
The Federal Oil Ministry confirmed the agreement, explaining that all crude produced in the Kurdistan Region will be handed over to the State Oil Marketing Organization (SOMO), which will manage exports to global markets. A portion of the oil will be allocated for domestic consumption.
Both Iraqi Prime Minister Mohammed Shia' al-Sudani and Kurdistan Region Prime Minister Masrour Barzani welcomed the breakthrough, calling it a significant step toward strengthening cooperation between Baghdad and Erbil and stabilizing Iraq’s energy sector.
The agreement follows months of complex negotiations after oil exports from the Kurdistan Region were halted in March 2023, when an international arbitration ruling required Baghdad’s approval for shipments through the Ceyhan pipeline. The stoppage cut off a vital revenue source for both governments, exacerbating fiscal pressures and limiting Iraq’s influence on global energy markets.
The resumption of oil exports is expected to ease economic pressures, attract new investment, and reaffirm Iraq’s role as a reliable supplier in international energy markets.
