PM:06:27:16/04/2025
1236 View
+
-
Iraqi Oil Minister Hayan Abdul Ghani announced that discussions are ongoing to resume oil exports from the Kurdistan Region. Speaking on Wednesday, he said a delegation from the Kurdistan Region’s Ministry of Natural Resources will visit Baghdad this Saturday to further the talks.
He noted that oil contracts in the region differ from those with the federal government and acknowledged that the cost of production is higher due to the region’s geographical challenges—averaging $16 per barrel.
Abdul Ghani emphasized Iraq’s urgent need to export oil from the Kurdistan Region and confirmed that work is underway to establish a clear export mechanism. The federal budget allocates 400,000 barrels per day for the region, and recent amendments to the budget law now include tax provisions and guarantees for companies operating there