Iraq resumes oil export to Kurdistan, removed after about two and a half years

Baghdad, September 27 (IANS). Iraq’s Oil Ministry resumed the export of crude oil from the Semi-Laat Kurdistan region through the Iraq-Turkia pipeline on Saturday. After almost two and a half years of suspension, Iraq again announced to start oil exports. The Iraq Ministry said in a statement that the work of oil exports began at 06:00 with high efficiency and complete liquidity, reflecting the success of joint efforts between the Iraqi federal government and the Kurdistan regional government. The statement issued by the ministry said: “This is an important step towards strengthening national wealth management in a sense of development partnership and high-level coordination, which contributes to ensuring the stability of oil exports and the support of the national economy.” Iraq Prime Minister Mohammad Shia Al-Sudani announced an agreement on Thursday, whereby the Ministry of Federal Oil Crude Oil produced in Kurdistan will export and execute it through the pipeline via Turkis. According to the report of the Xinhua news agency, the Kurdish authorities sold oil independently through the Sehan port of the Turkia without the approval of Baghdad. The pipeline was concluded from March 2023 by international arbitration after the Kurdish Regional Government’s dispute over the Turki on independent oil sales. Oil exports share more than 90 percent in the government’s Iraq revenue. The decision to start oil exports is considered an important step for the country’s economic reform. Last week, Iraq Prime Minister Mohammad Shia Al-Sudani announced the launch of a national development vision. The prime minister’s announcement stressed that the country could not only depend on fossil fuels as the groundstone of its national economy. According to a statement from the media office of Prime Minister Al-Sudani, the Prime Minister attended the inaugural ceremony of Iraq Vision 2050 for development and future on Saturday, including senior government officials, diplomats and private sector representatives. The program aims to diversify the economy of Iraq, reduce oil dependence and participate in the private sector by increasing structural reforms. Major projects in Iraq include the eraq to establish Iraq as a transit center for 20 percent of the Asia-Europe trade through the Al-F-Grand Port and Development Road project. This is expected to create 1.5 million jobs. The purpose of this vision of Iraq is to achieve 70 percent self -sufficiency in food, water and energy through permanent green initiatives. For this, an upcoming development road map will be offered before the Council of Ministers for approval. – IANS KANAK/BC