The Association of the Petroleum Industry of Kurdistan (APIKUR) in a statement on May 27 responded to media reports that “mistakenly point to a lack of flexibility from international oil companies (IOCs) as the reason for the continuing impasse on resumption of oil exports via the Iraq-Turkiye pipeline (ITP).”
Read More: APIKUR Urges Dialogue on Oil Exports
“Such reports suggest that there are ongoing talks that have stalled due to an intransigent position taken by IOCs. However, no joint discussions between IOCs and representatives of the Kurdistan Regional Government (KRG) and the federal government of Iraq have occurred since January 7-9, 2024,” APIKUR said.
“APIKUR member companies reiterate that they are prepared to resume exports, contingent upon reaching agreements that provide for payment surety for past and future exports, direct payment, and preservation of commercial terms,” the statement added.
Moreover, APIKUR said that if “such agreements require modifications to existing contracts, APIKUR member companies are willing to consider this if agreed between the government of Iraq, the KRG, and individual IOCs.”
“APIKUR’s member companies believe tripartite talks between the government of Iraq, the KRG, and IOCs are the best way to find solutions that will lead to the resumption of ITP exports,” said APIKUR Spokesperson Myles B. Caggins III. “APIKUR’s member companies stand ready to constructively participate in any such talks.”
APIKUR in a post on X on May 27 stated that they believe tripartite discussions are required to find a mutually beneficial solution to restore oil exports through the ITP.
On March 25, 2023, independent crude exports from the Kurdistan Region through Turkiye were stopped after an international arbitration in Paris ruled in favor of Baghdad against Ankara, blocking 450,000 barrels per day of crude oil exports.
In this cabinet, we have:
— Masrour Barzani (@masrourbarzani) May 16, 2024
• Doubled gas production
• Built the biggest flare-to-power plant in the Middle East
American companies and @DFCgov financing have played a crucial role.@AsstSecENR and I agreed on the need to resume oil exports. The stoppage has cost over $15bn. pic.twitter.com/P7VfOvWs8x
On May 16, 2024, U.S. Assistant Secretary of State for Energy Resources Geoffrey Pyatt visited the Kurdistan Region and was welcomed by KRG Prime Minister Masrour Barzani.
In a post on X, Prime Minister Barzani said that during the visit he and Secretary Pyatt “agreed on the need to resume oil exports,” noting that “the stoppage has cost over $15 billion.”
