By John Lee.
The Association of the Petroleum Industry of Kurdistan (APIKUR) has said its member companies will not resume crude oil exports via the Iraqi-Türkiye Pipeline (ITP) until the Government of Iraq (GOI) guarantees contract sanctity and payment for past and future exports.
Full statement from APIKUR:
Designated International Oil Companies (IOCs), along with the Kurdistan Regional Government, have been negotiating in good faith with the Government of Iraq (GOI), including directly with Prime Minister Sudani's office, to reach a resolution to resume exports through the Iraqi-Türkiye pipeline in accordance with our legal agreements and the Iraqi budget law.
We understand today the Ministry of Oil has demonstrated it is unwilling to negotiate a solution that honors IOCs contract sanctity and is attempting to establish a process to unilaterally alter the economic framework of legal and valid contracts between the KRG and IOCs.
These actions by the Ministry of Oil are not acceptable, and the member companies of APIKUR will not resume exports until there is commitment from the GOI to honor our contracts including payment surety for past and future exports.
(Source: APIKUR)
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