Talks essential for resuming Kurdish oil exports from Iraq were postponed due to financial disputes over payment terms for foreign oil companies. Originally scheduled for Tuesday, discussions were delayed until Thursday after initial talks failed to reach an agreement. The Kurdistan oil industry association expressed concerns over lack of clarity in upcoming agreements.
Negotiations aimed at resuming oil exports from Iraq’s Kurdistan region have been postponed until Thursday due to unresolved financial disagreements between oil companies and the Iraqi oil ministry, as reported by sources to Reuters. Initially planned for Tuesday, discussions failed after a preliminary meeting on Sunday did not reach consensus on crucial payment terms for foreign companies operating in the region, which caused the delay of two days.
The delay follows assurances from Iraqi Oil Minister Hayan Abdel-Ghani regarding the imminent resumption of exports through the Iraq-Turkey pipeline, which has been inactive for the past two years. However, the Association of the Petroleum Industry of Kurdistan (APIKUR), which represents eight companies accounting for 60% of the region’s oil production, noted that no formal proposal had been made to clarify commercial agreements or payment guarantees for previous and future exports.
In summary, the postponement of Kurdish oil export talks highlights ongoing disputes over financial terms between Iraq and oil companies. The situation underscores the complexity of negotiations required to resume exports through the Iraq-Turkey pipeline after a lengthy shutdown. Clear agreements on payment and commercial terms are crucial for the future of the oil sector in this semi-autonomous region.
Original Source: www.lbcgroup.tv
