The Association of the Petroleum Industry of Kurdistan (APIKUR) has reiterated its appeal for the resumption of tripartite negotiations between Erbil, Baghdad, and oil investment companies. The aim is to resolve outstanding issues and restart oil exports from the Kurdistan Region via the Iraq-Turkey pipeline.

APIKUR urged the Iraqi Federal Government to work with the Kurdistan Regional Government (KRG) and international oil companies to find a mutually beneficial solution. Encouraging statements from both KRG and Iraqi officials have fueled hopes for progress. APIKUR proposed a tripartite meeting to expedite discussions and restore oil exports.

This appeal follows a recent interview with KRG Prime Minister Masrour Barzani on Al-Arabiya and Al-Hadath. Barzani emphasized the economic damage caused by the halt in oil exports, which has led to losses exceeding $19 billion for Iraq. He expressed optimism for a resolution, stating, "If there is political will in Baghdad, the solution is simple."

Barzani also highlighted two key issues hindering progress: the cost of oil extraction and the recovery of investments made by foreign companies. He emphasized the need to recognize the diverse production costs across Iraq's regions, especially in the Kurdistan Region.

In a related development, OPEC has called on Iraqi Oil Minister Hayyan Abdul Ghani to allow the Kurdistan Region to resume exporting 200,000 barrels of oil per day. Since March 2023, the suspension of exports has caused significant revenue losses for oil companies, job cuts, and economic strain on both the Kurdistan Region and Iraq.

APIKUR's renewed call for dialogue represents a crucial step toward resolving the export impasse and protecting the interests of all stakeholders, contributing to the economic well-being of Iraq and the Kurdistan Region.