Latest news with #APIKUR
Iraq Business
a day ago
- Business
- Iraq Business
APIKUR Welcomes Intensified Talks to Resume Oil Exports
By John Lee. The Association of the Petroleum Industry of Kurdistan (APIKUR) has welcomed it described as renewed and intensified negotiations between the Kurdistan Regional Government (KRG) and the Government of Iraq (GoI) aimed at resuming oil exports via the Iraq-Türkiye Pipeline (ITP). The statement follows a high-level meeting held on 12th July 2025 between International Oil Companies (IOCs) operating in the Kurdistan Region - including APIKUR members - and representatives of both the KRG and GoI. During the meeting, IOCs reaffirmed their readiness to immediately resume oil exports once binding agreements are signed that ensure: Payment certainty for future exports, consistent with each company's existing, legally valid contracts; A mechanism for settling outstanding arrears, to be agreed individually with each company; Transparent and prompt payments, either in cash or via in-kind transfers of crude oil entitlements. Full statement from APIKUR: Member companies of the Association of the Petroleum Industry of Kurdistan (APIKUR) are pleased to note that the negotiations between the Kurdistan Regional Government (KRG) and the Government of Iraq (GoI) have intensified to reach agreement to resume of oil exports via the Iraq-Türkiye Pipeline (ITP), with the goal to do so in the near term. Ahead of these discussions, APIKUR member companies and representatives of other International Oil Companies (IOCs) active in the Kurdistan region of Iraq participated in a meeting on July 12, 2025 with officials from the KRG and the GoI. In this meeting, IOCs reiterated that they are prepared to immediately resume exports through the ITP once binding agreements are in place that ensure payment certainty for such exports which reflect each IOC's existing, legally valid contractual terms as well as resolution of the outstanding payment arrears to be agreed with each company. All payments to be made promptly and transparently in a manner acceptable to the IOCs and the KRG, either in cash or through the transfer of their entitlement share of oil " in kind. " " APIKUR member companies stand ready to resume exports as soon as written agreements are executed that honor our existing contracts which are governed by international law, " said Myles B. Caggins III, spokesman for the Association of the Petroleum Industry of Kurdistan. " APIKUR has always firmly held that our members' production sharing contracts must be honored in every respect and members have never participated in any meetings with any governmental body suggesting otherwise. " (Source: APIKUR) Tags: Association of the Petroleum Industry of Kurdistan (APIKUR), Ceyhan, cg, featured, Genel Energy, GKP, Gulf Keystone Petroleum, Iraq Oil Exports News, Iraq Oil Production News, Iraq-Turkey Pipeline (ITP), Iraq-Türkiye Pipeline, KRG, Kurdistan News, Ministry of Oil, oil contracts, oil revenues, Turkey, Turkiye
Shafaq News
2 days ago
- Business
- Shafaq News
APIKUR: Ready to resume exports via Turkiye pipeline
Shafaq News – Erbil The Association of the Petroleum Industry of Kurdistan (APIKUR) endorsed, on Monday, renewed talks between the Kurdistan Regional Government (KRG) and Baghdad to resume oil exports through the Iraq–Turkiye pipeline. In a statement, APIKUR—representing eight international oil companies operating in the Kurdistan Region—confirmed that its members joined a high-level meeting with federal and KRG officials two days earlier, declaring its readiness to restart shipments to the Ceyhan port, contingent on clear financial terms and enforceable contract commitments. At a meeting on July 12, @apikur_oil member companies reiterated to Kurdistan Regional Government and Government of Iraq that they are prepared to immediately resume exports through the Iraq-Türkiye pipeline once binding agreements are in place that ensure payment certainty for… — APIKUR (@apikur_oil) July 14, 2025 The association also underscored that any restart must include binding guarantees from Baghdad to honor production-sharing contracts and ensure prompt payment for both outstanding and future oil deliveries. Exports through the pipeline have been suspended since March 2023, following a tribunal ruling that ordered Turkiye to pay Iraq $1.5 billion for unauthorized transfers. Ankara rejected the decision, demanding Erbil to take on the liability, prompting the shutdown.
Rudaw Net
2 days ago
- Business
- Rudaw Net
Baghdad pledges non-interference in oil firms as KRG export resumption nears: Sources
Also in ECONOMY Iraq gold surges, inflation dips as deficit grows: Central Bank Fate of trade on Iraqi ports as Iran-Israel war escalates Erbil, Baghdad trade accusations over financial disputes Iraq close to Saudi, Emirati solar deals: Electricity ministry A+ A- ERBIL, Kurdistan Region - The Iraqi government has agreed to refrain from modifying the contracts of international oil companies operating in the Kurdistan Region, senior sources told Rudaw on Tuesday, with the Region's long-stalled oil exports on the cusp of resumption. A joint committee is set to be formed between Erbil and Baghdad to restart oil exports with all parties awaiting the results of a crucial Coordination Framework, Iraq's ruling coalition, meeting expected to be held on Tuesday night. 'The meeting will be decisive in resolving disagreements about oil and salaries,' a senior source in Baghdad told Rudaw, on the condition of anonymity. Another source from the Association of the Petroleum Industry of Kurdistan (APIKUR) said that they have obtained guarantees regarding their demands for oil production and export. 'Guarantees have been given that the consulting company that estimates the costs of oil production and transportation will not make changes to the contracts during its work period,' the source told Rudaw. In a statement, APIKUR on Tuesday hailed the expedited efforts by the federal government and the Kurdistan Regional Government (KRG) to resume oil exports. International Oil Companies (OICs) 'reiterated that they are prepared to immediately resume exports through the ITP [Iraq-Turkey pipeline] once binding agreements are in place that ensure payment certainty for such exports which reflect each IOC's existing, legally valid contractual terms as well as resolution of the outstanding payment arrears to be agreed with each company,' the oil association said in a statement. Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been halted since March 2023 when a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had violated a 1973 pipeline agreement by allowing Erbil to begin exporting oil independently in 2014. 'APIKUR member companies stand ready to resume exports as soon as written agreements are executed that honor our existing contracts which are governed by international law,' the statement cited the association's spokesperson Myles Caggins as saying, reiterating that existing contracts 'must be honored in every respect.' Under the 2025 budget law, the KRG is required to deliver 400,000 barrels per day to the State Oil Marketing Organization (SOMO). On Saturday, Iraqi Oil Minister Hayyan Abdul Ghani attributed the delay in restarting exports to new demands from Erbil for higher volumes of oil for domestic use, explaining that while the KRG initially agreed on 46,000 barrels per day for internal consumption, it is 'now requesting it to be 65,000, thus violating the budget law.' The halt in exports and disputes with Baghdad have put an enormous financial strain on the KRG, which has lost more than $25 billion in oil revenues. Erbil is not able to pay its civil servants and is dependent on funds from Baghdad. In May, Iraq's federal finance ministry halted all budget transfers to the KRG, including payments for public employee salaries, claiming the KRG had exceeded its share of federal budget funds and failed to deliver its oil to SOMO. Public sector workers have not been paid since. Hastyar Qadir contributed to this report.
Rudaw Net
09-05-2025
- Business
- Rudaw Net
Oil association urges renewed efforts to resume Kurdish exports
Also in ECONOMY Iraq tells Turkey it needs more time to restart Kurdish oil exports Dana Gas says to begin production at Chamchamal field next year KRG calls for restart of Kurdish oil exports 'as soon as possible' KRG transfers control of digital salary payment program to finance ministry A+ A- ERBIL, Kurdistan Region - Oil producers in the Kurdistan Region on Sunday called for increased efforts to resume the long-halted Kurdish oil exports through the Iraq-Turkey pipeline (ITP). In a statement, the Association of the Petroleum Industry of Kurdistan (APIKUR) said that their latest meeting with the Iraqi government and the Kurdistan Regional Government last week 'did not result in any agreements.' 'The GoI [Government of Iraq] continues to publicly express the importance of oil exports through the ITP but engagements thus far have been limited and unproductive. APIKUR calls for redoubling of efforts to find mutually beneficial solutions,' the statement said. Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023 after a Paris-based arbitration court ruled in favor of Baghdad against Ankara, saying the latter had violated a 1973 pipeline agreement by allowing Erbil to begin exporting oil independently in 2014. Despite ongoing talks between Erbil, Baghdad, Ankara, and oil producers - with added pressure from the United States - the exports remain stalled, with their suspension costing Iraq billions of dollars in revenue. 'APIKUR member companies have repeatedly proposed solutions that satisfy, both, Iraq's Budget Law and comply with international oil company contracts which have been validated in Iraq's courts,' said APIKUR spokesperson Myles Caggins. 'We regret the lack of progress, nevertheless we will continue to push for a resumption [of] oil exports.' The oil association also lamented that 'no substantial discussions' have taken place with Baghdad and Erbil on their proposals for payment mechanisms, stressing that multiple recommendations have gone unaccepted. 'APIKUR member companies remain ready to immediately resume exports through ITP once binding agreements are in place that ensure payment certainty for such exports in like with each IOC's existing contractual terms,' the statement added. In early April, APIKUR said that their investments have been 'fundamentally harmed' by the closure of the pipeline and that they are in a 'hurry' to resume the oil exports, for which they have been 'at forefront to push negotiations with Baghdad.' In early February, the Iraqi parliament approved amendments to the federal budget law, authorizing a $16-per-barrel fee for production and transport costs in the Kurdistan Region - a move seen as a crucial step toward restarting exports. The amendments also require both the federal government and the KRG to establish an international technical consultancy within 60 days to assess production and transportation costs for oil fields in the Kurdistan Region. If an agreement cannot be reached, the federal council of ministers will appoint the consultancy.
Rudaw Net
09-05-2025
- Business
- Rudaw Net
KRG calls for restart of Kurdish oil exports 'as soon as possible'
Also in ECONOMY Iraq tells Turkey it needs more time to restart Kurdish oil exports Dana Gas says to begin production at Chamchamal field next year Oil association urges renewed efforts to resume Kurdish exports KRG transfers control of digital salary payment program to finance ministry A+ A- ERBIL, Kurdistan Region - The Kurdistan Region's Council of Ministers said on Wednesday that it has met its obligations for resuming the Region's oil exports, calling on the relevant authorities in Erbil and Baghdad to restart the process 'as soon as possible.' The Council of Ministers held its weekly meeting in Erbil on Wednesday to discuss a range of issues, particularly the Kurdish oil exports which have been suspended for over two years. 'The Council of Ministers reaffirms its unchanging position in support of negotiations and discussions between both the Oil Ministry and Natural Resources Ministry for the soonest possible resumption of oil exports,' read a statement from the Kurdistan Regional Government (KRG). 'To this end, the Council of Ministers calls on the [Kurdish] Ministry of Natural Resources, the Federal Oil Ministry, oil companies, and [Iraq's State Oil Marketing Organization] SOMO to continue coordination and negotiation in order to resolve the issues and reach an agreement as soon as possible to resume Kurdistan Region's oil exports and to prevent further financial losses to the general treasury, which have already exceeded tens of billions of dollars,' it added. Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023, after a Paris-based arbitration court ruled in favor of Baghdad, stating that Ankara had violated a 1973 pipeline agreement by allowing Erbil to export oil independently. Iraq's foreign minister said on Tuesday that Baghdad is seeking to resume Kurdish oil exports through the Iraq-Turkey pipeline and will 'make every effort' to do so. Myles Caggins, spokesperson for the Association of the Petroleum Industry of Kurdistan (APIKUR), an umbrella group of international oil companies operating in the Kurdistan Region, told Rudaw on Tuesday that Baghdad must provide written documentation of the international consultant's audit of production and costs. "I want to make APIKUR's position clear. Our companies are ready to resume oil exports when we have agreements, and we need agreements for sales and also an agreement for the international consultant that is required by Iraq's budget law," he added. In early February, the Iraqi parliament approved amendments to the federal budget law, authorizing a $16-per-barrel fee for production and transport costs in the Kurdistan Region - a move seen as a crucial step toward restarting exports. The amendments also require both the federal government and the KRG to establish an international technical consultancy within 60 days to assess production and transportation costs for oil fields in the Kurdistan Region. If an agreement cannot be reached, the federal council of ministers will appoint the consultancy.
