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Iraqi News (24 March 2024)

Amr Salem

The Iraqi Minister of Oil, Hayan Abdul-Ghani, revealed that the Iraqi government is reviewing an amendment to the country’s general budget to be able to pay foreign oil firms operating in the Kurdistan region of Iraq.

The step will allow international oil companies in Iraqi Kurdistan to resume oil production and exports through the Turkish port of Ceyhan, according to Bloomberg.

In March 2023, Turkey halted oil flows through the pipeline connecting Iraqi Kurdistan with the port of Ceyhan on the Mediterranean, costing both the Iraqi and Turkish governments and the operating oil companies billions of dollars in lost income.

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