Oil Minister Announces Start of Procedures to Deliver Kurdistan Region’s Oil to SOMO

Economy

3-02-2025, 22:48

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Baghdad - INA

Oil Minister Hayan Abdul Ghani announced on Monday the commencement of procedures for transferring Kurdistan Region's oil to the State Oil Marketing Organization (SOMO).

In a statement to the Iraqi News Agency (INA), Abdul Ghani said, “The Oil Ministry has initiated coordination with the Kurdistan Regional Government by formally requesting the proper handover of oil to SOMO.”

The minister also noted ongoing discussions with the Turkish government to prepare the Iraq-Turkey pipeline for resuming crude exports via the Ceyhan port.

Abdul Ghani stated that the agreed-upon volume stands at no less than 300,000 barrels per day, which will be delivered to the federal Oil Ministry for export through the Iraq-Turkey pipeline.
He also highlighted ongoing negotiations between Baghdad and Erbil regarding outstanding debts related to the region’s oil revenues.

Meanwhile, Prime Minister Mohammed Shia Al-Sudani welcomed the Iraqi Parliament’s decision to approve amendments to the federal budget law

for 2023-2025 (Law No. 13 of 2023), as proposed by the Council of Ministers.

He called on both the Kurdistan Regional Government and the federal Oil Ministry to immediately implement the amendments, stressing the need for optimal utilization of Iraq’s natural resources—particularly oil—to support stability and drive further development plans that address the needs of the Iraqi people.