Kurdistan Region officials confirmed Saturday that oil fields have restarted exports to Turkey's Ceyhan terminal after more than two years of suspension. Khazal Auzer from the Ministry of Natural Resources said the halt forced local companies to sell below international prices and reduced production levels. The region plans to produce 240,000 barrels daily under a three-month agreement with Baghdad and international firms.
Prime Minister Masrour Barzani announced the breakthrough during a religious conference in Erbil. He praised American officials for helping broker the deal between Kurdish and Iraqi authorities. The arrangement sends 190,000 barrels for export while keeping 50,000 for domestic consumption. Iraq's state marketer SOMO will handle global sales through a Swiss trading company.
Prime Minister Masrour Barzani announced the breakthrough during a religious conference in Erbil. He praised American officials for helping broker the deal between Kurdish and Iraqi authorities. The arrangement sends 190,000 barrels for export while keeping 50,000 for domestic consumption. Iraq's state marketer SOMO will handle global sales through a Swiss trading company.
