Kurdish Oil Export Talks Postponed Due to Financial Disputes

The talks aimed at resuming oil exports from Iraq’s Kurdistan region are postponed to Thursday due to disagreements over payment terms between oil companies and the Oil Ministry. Initial discussions failed to produce a consensus, particularly concerning payment arrangements for foreign operators. The Kurdish oil industry representatives have expressed concerns about the clarity of commercial agreements.

Negotiations to expedite the resumption of oil exports from Iraq’s semi-autonomous Kurdistan region have been deferred until Thursday due to disputes regarding payment terms between oil companies and the Iraqi Oil Ministry, according to three sources cited by Reuters.

Originally planned for Tuesday, the talks were delayed following a lack of consensus during preliminary discussions on Sunday, particularly regarding the payment structure for foreign companies operating in the Kurdistan region.

This meeting was prompted by repeated assurances from Iraqi Oil Minister Hayan Abdel-Ghani and government officials indicating that the Iraq-Turkey pipeline, which has been inactive for two years, would soon resume oil exports.

However, the Association of the Petroleum Industry of Kurdistan (APIKUR), representing eight companies accountable for 60% of the region’s oil production, noted last Friday that there had not been any formal communication outlining commercial agreements or payment guarantees for current and future exports.

In conclusion, the postponement of the Kurdish oil export talks illustrates ongoing tensions related to financial agreements between oil companies and the Iraqi government. The lack of clarity regarding payment structures is a significant obstacle in resuming exports through the Iraq-Turkey pipeline. With the urgency expressed by Iraqi officials, the anticipated reconvening of the discussions may lead to eventual resolutions.

Original Source: www.lbcgroup.tv