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NewsIraqi Oil Minister expects oil exports from Kurdistan to resume on Saturday

Iraqi Oil Minister expects oil exports from Kurdistan to resume on Saturday

However, the minister added that Iraq has not yet received a response from the Turkish company “Botas” regarding the request for the resumption of the flow of oil.

Reuters quoted three sources as saying on Thursday that Iraq had sent an official request to Turkey to resume pumping oil exports through a pipeline stretching from the Kurdistan region of Iraq in the north of the country to the Turkish port of Ceyhan, after a closure that lasted for almost seven weeks.

One of the three sources and an independent oil industry source said the request, which was sent to Turkey’s state energy company “BotaÅŸ”, came after traders who buy crude from the Kurdistan region have signed contracts with the Iraqi government’s oil marketing company. “SOMO” Tuesday and Wednesday after weeks of discussions.

The issue of halted exports had prompted foreign companies operating in the Kurdistan region of Iraq to stop publishing their production forecasts. The Norwegian oil company “DNO” has canceled its production forecasts in the region after the suspension of exports intervened since March, which forced the company to stop production.

The Norwegian company said in a statement: “Until exports resume and payments for previous and current oil sales are regular, DNO cannot provide any forecast of Kurdistan’s production for the full year.” .

In turn, “Genel Energy” canceled its production forecast in 2023, saying it was no longer valid for advertising given the closure of the pipeline between Iraq and Turkey since March.

The company, which focuses its activities on the Kurdistan region of Iraq, said it would release new forecasts once the pipeline reopens and investment plans are confirmed.

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