Renewed Oil Flow: Iraq and Kurdish Government Strike Export Deal
Iraq and the Kurdish regional government have reached a preliminary agreement with foreign oil firms to restart oil exports to Turkey. The final decision is pending approval from the Iraqi cabinet, expected to be discussed on Tuesday.
In a significant development, the Iraqi oil ministry and the Kurdish regional government have reached a preliminary agreement with international oil companies to resume oil exports to Turkey. This was confirmed by two anonymous oil officials in a statement to Reuters.
The agreement marks a crucial step towards stabilizing the oil trade in the region, which has faced numerous disruptions in recent years. However, the deal's implementation remains contingent upon approval by the Iraqi cabinet, a decision set to be made on Tuesday.
The potential resumption of oil exports through the pipeline to Turkey could significantly impact both the regional economy and global oil markets, highlighting the strategic importance of this agreement.
(With inputs from agencies.)
- READ MORE ON:
- Iraq
- Kurdish
- oil exports
- delegation
- Turkey
- pipeline
- agreement
- cabinet
- approval
- global markets
Google News