Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani and U.S. Assistant Secretary of State for Energy Affairs Geoffrey Pyatt on Friday held a telephone discussion focused on strengthening bilateral relations and resuming oil exports from the Kurdistan Region.
According to the KRG readout, during the call both sides stressed the urgency of resolving outstanding issues and removing barriers to oil exports, highlighting the suspension’s detrimental impact on Iraq’s budget and economic stability.
I spoke with @AsstSecENR Geoffrey Pyatt about the urgency to restart Kurdistan Region’s oil exports.
— Masrour Barzani (@masrourbarzani) January 3, 2025
The delay has hurt Iraq’s economy as a whole — over $25 billion in lost revenue to date.https://t.co/5sRy2VhK7x
Prime Minister Barzani and Assistant Secretary Pyatt reaffirmed their agreement on the critical role that the Kurdistan Region can play in advancing Iraq’s sovereignty and energy independence, underscoring the importance of equitable solutions to support long-term economic growth and regional stability.
On March 25, 2023, Kurdish crude exports through Turkiye were stopped after an international arbitration court ruled in favor of Baghdad against Ankara, halting 450,000 barrels per day of crude oil exports to international markets.
Read More: KAR Group Welcomes Decision by Iraqi Government on Oil Exports
The Iraqi federal government has requested that Iraq’s parliament amend the 2025 draft budget law to address challenges related to oil exports from the Kurdistan Region. So far, the Iraqi parliament has not approved the amendment, which includes providing cost projections for crude oil extraction, following an initial agreement between the KRG and oil companies.
