Iraq completes procedures to resume oil exports to Türkiye

The Iraqi Ministry of Oil announced on Saturday that it has completed the necessary procedures to resume crude exports from the Kurdish Regional Government (KRG) to Türkiye via the Ceyhan port.

The ministry also requested that KRG authorities transfer the crude produced from operational fields to the State Organization for Marketing of Oil (SOMO) for export through the Iraq-Türkiye pipeline and the Ceyhan port.

Oil tankers dock at Türkiye’s Ceyhan port, a key hub for crude exports from Iraq. (AA Photo)

Iraqi Oil Minister Hayyan Abdul Ghani had stated on Feb. 17 that oil exports, which were halted on Mar. 25, 2023, would resume within a week.

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The Iraqi Parliament had previously approved amendments to the budget law, setting the cost of extracting and transporting each barrel of oil from the KRG at $16.

Over $23 billion in losses

The suspension of oil flows from Iraq to Türkiye’s Ceyhan port followed a ruling by the Paris-based International Court of Arbitration in a legal dispute between the two countries over oil exports.

The halt in exports is estimated to have caused Iraq economic losses exceeding $23 billion.

February 26, 2025 09:19 AM GMT+03:00