Oil exports from the Kurdistan Region restarted on Sept. 25 after a suspension of nearly two and a half years, with the first shipment leaving through the Turkish port of Ceyhan on Sept. 27. The breakthrough follows an agreement among the Kurdistan Regional Government, Iraq's federal government, and international oil companies. Initial exports stand at 190,000 barrels per day, with plans to increase to 230,000 barrels daily, while 50,000 barrels per day will serve domestic needs in the Kurdistan Region.
Energy experts say the move strengthens Turkey's and Europe's energy security while offering a more secure alternative to sea transport from Basra. The deal is expected to generate $400 million to $500 million monthly for Iraq's federal...