Preliminary Agreement Between Baghdad and Erbil to Resume Oil Exports via Pipeline to Ceyhan Port

The federal government in Baghdad and the Kurdistan Regional Government reached a preliminary agreement that paves the way for resuming crude oil exports through the pipeline leading to the Turkish port of Ceyhan. An informed government source said that the agreement stipulates the formation of a joint technical committee to supervise export operations and determine daily quantities in a manner that ensures the common interests of both parties. He added that the agreement includes an updated mechanism for depositing oil revenues in an account subject to the supervision of the Central Bank of Iraq, with revenues to be distributed according to the percentages specified in the federal budget. Kurdish oil exports had been halted for several months due to complex legal and financial disputes between the two sides, causing significant financial losses to accumulate in the region's treasury. Economic analysts see this agreement as an important breakthrough that may contribute to easing political and economic tensions between Baghdad and Erbil. A technical delegation from the federal Ministry of Oil is scheduled to visit Erbil next week to begin applying the agreement on the ground. The President of the Kurdistan Region welcomed the agreement and described it as a constructive step towards enhancing the strategic partnership between the two sides.