Discussions to resume oil exports from Iraq’s Kurdistan region have been postponed due to financial disputes between oil companies and the oil ministry. The initial talks failed to resolve key payment issues, leading to the delay. The Kurdistan Petroleum Association stated there has been no formal agreement on payment guarantees for past and future exports.
Negotiations concerning the resumption of oil exports from Iraq’s semi-autonomous Kurdistan region have been delayed until Thursday due to unresolved disagreements over financial terms between various oil companies and the Iraqi oil ministry. Initially scheduled for Tuesday, the discussions were postponed after preliminary talks held on Sunday failed to reach an agreement on critical issues such as payment procedures for foreign companies operating in the region.
This meeting was prompted by statements from Hayan Abdel-Ghani, Iraq’s oil minister, indicating that the Iraq-Turkey pipeline, which has been inactive for two years, would soon resume exports. However, the Association of the Petroleum Industry of Kurdistan (APIKUR), representing eight companies accounting for 60% of the region’s oil production, highlighted that no formal proposals had been made to clarify the commercial agreements and guarantee payments for both past and upcoming oil exports.
In summary, the postponement of talks regarding Kurdish oil exports stems from disagreements over financial terms and lack of clarity in payment arrangements. The anticipated resumption of the Iraq-Turkey pipeline adds urgency to these negotiations, yet key stakeholders remain without clear agreements. The situation reflects the complexities involved in managing oil agreements in Iraq’s semi-autonomous regions.
Original Source: www.lbcgroup.tv
