Iraq Invites Oil Firms for Kurdistan Export Talks

Iraq’s Ministry of Oil has invited foreign oil companies and the Kurdistan Regional Government (KRG) to discussions aimed at resolving ongoing disputes and facilitating the resumption of oil exports from the Kurdistan region, which have been suspended since March 2023. The Association of the Petroleum Industry of Kurdistan (APIKUR) has stated that they will not resume exports until new agreements and payment guarantees are established, emphasizing concerns over outstanding payments totaling $1 billion. Despite announcements from Baghdad regarding a potential restart of exports, APIKUR maintains that clarity on commercial agreements is necessary before proceeding. U.S. interests in stabilizing Iraq's energy sector add pressure on Baghdad to enable Kurdish oil flow, particularly to reduce Iranian exports. Recent legal actions by the Iraqi oil ministry against international companies have raised doubts about the government's commitment to honoring contracts, complicating the outlook for a swift resumption of exports. The situation remains tense as Iraq navigates its relationships with both Washington and Tehran while seeking to revitalize its oil industry.