Iraq, KRG Agree New Oil Export Mechanism
The Kurdistan Regional Government (KRG) Ministry of Natural Resources and the Iraqi Ministry of Oil have agreed on a new mechanism for oil exports from the Kurdistan Region of Iraq.
The deal, finalised after joint meetings beginning on 17 July 2025 and site visits to all regional oil fields, was signed on 11th August by delegations from both sides, including 17 representatives from the Iraqi Ministry of Oil.
Under the agreement, 50,000 barrels per day (bpd) will be reserved for domestic use within the Kurdistan Region, with the remainder delivered to the State Oil Marketing Organisation (SOMO) for export.
Resumption of exports will require the Federal Government to coordinate with the Republic of Türkiye and implement the agreed export process.
(Source: KRG Ministry of Natural Resources)
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