By John Lee.
On Sunday, senior officials from the Iraqi Federal Government in Baghdad met with KRG Prime Minister Masrour Barzani and his team to discuss the resumption of oil exports via the Iraqi-Turkish Pipeline (ITP) the Turkish port of Ceyhan.
Deputy Prime Minister for Energy and Minister for Energy Affairs and Oil, Hayan Abdul-Ghani, was accompanied by the Director General of the State Oil Marketing Organization (SOMO), Ammar al-Anbagi.
PM Barzani reaffirmed the KRG's readiness to resume oil exports, emphasising the importance of mutual understanding regarding the technical and financial aspects of the process. He stressed the need to uphold the constitution and mutual agreements to protect the rights of all parties and address the Kurdistan Region's interests in oil production and transportation cost recovery.
Minister Abdul Ghani indicated the government's keenness to find appropriate mechanisms to resume production and export of oil from the region. Reuters quotes him as saying that he expects to reach an agreement on the matter within three days.
Share in Gulf Keystone Petroleum (GKP) were trading up 17 percent on Monday afternoon, with shares in Genel Energy up 15 percent.
(Sources: Ministry of Oil, KRG, Reuters)
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