Cairo, March 17, (dpa/GNA) – The government in Iraq and the semi-autonomous Kurdish region, have agreed to resume oil exports via a key pipeline that runs through Turkey to the Mediterranean.
Kurdish Prime Minister Masrour Barzani, stated that there were “exceptional circumstances” in the country. “We all share the responsibility to get through this difficult chapter.” At the same time, he said that negotiations continue to lift an embargo on Kurdish oil traders.
For years, there has been a dispute between the Iraqi government and the Kurdish region over how the pipeline should be operated and how the revenues from oil exports should be distributed.
The government in Baghdad hopes for exports via the pipeline of about 300,000 industry standard barrels, each containing 159 litres, which are expected to resume today.
Due to the de facto blockade of the Strait of Hormuz because of the Iran war, Iraq has already significantly reduced its oil production.
According to Iraqi Oil Minister Hayan Abdul Ghani, the country is currently producing only 1.3 million barrels of crude oil, which is about 30% of normal production.
GNA