Iraq Economic News and Points To Ponder Saturday Afternoon 9-27-25
Prime Minister: A Historic Agreement Has Been Reached To Export Oil From The Region's Fields Through The Iraq-Turkey Pipeline
Thursday, September 25, 2025 | Economics Number of readings: 132 Baghdad / NINA / Prime Minister Mohammed Shia al-Sudani announced reaching a historic agreement to export the region's oil fields through the Iraqi-Turkish pipeline.
Al-Sudani said in a post on the X platform: Today we reached a historic agreement under which the Federal Ministry of Oil will receive the crude oil produced from the fields located in the Kurdistan Region and export it through the Iraqi-Turkish pipeline.
He added, "This ensures the equitable distribution of wealth, diversifies export outlets, and encourages investment, and it is an achievement we have waited for 18 years." https://ninanews.com/Website/News/Details?Key=1253729
Kurdistan Oil Exports Begin Via Iraq-Turkey Pipeline, Washington Welcomes
September 26, 2025 A historic agreement ends a long crisis, and global companies praise the triple achievement.
Baghdad - Ibtihal Al-Arabi Erbil - Farid Hassan Baghdad has officially resumed exports of Kurdistan Region oil through the Iraq-Turkey pipeline, a move described as historic. The US welcomed the agreement, which it considers an achievement that enhances economic stability and national sovereignty.
This agreement, facilitated by the United States, is expected to achieve significant economic benefits while affirming Iraq's sovereignty, according to what US Secretary of State Marco Rubio announced on his personal Twitter account. Rubio's comment came after Iraqi Prime Minister Mohammed Shia al-Sudani announced a historic agreement with the region, under which the federal Ministry of Oil will receive crude oil produced from fields located in Kurdistan and export it through the Iraq-Turkey pipeline.
Two oil officials said yesterday that "the flow of crude oil from Kurdistan to Turkey will resume today, Saturday."
A statement issued by the US State Department yesterday said that "the resumption of oil flow through the pipeline is a major step toward calming regional tensions and enhancing economic stability.
The agreement will allow the export of crude oil, which was halted for a long time, resulting in financial losses for the Iraqi government and international partners."
Al-Sudani announced a historic agreement to export oil from Kurdistan's fields through the Iraq-Turkey pipeline. Al-Sudani wrote in a post on the X platform, "We have reached a historic agreement under which the federal Ministry of Oil will receive crude oil produced from fields located in Kurdistan and export it through the Iraq-Turkey pipeline," adding, "This ensures the equitable distribution of wealth, diversifies export outlets, and encourages investment. It is an achievement we have waited 18 years."
Kurdistan Regional Government Prime Minister Masrour Barzani described the agreement reached with the federal government on the oil file as a historic step that ends years of dispute and restores Kurdistan's direct connection to global markets.
Barzani wrote in a post on the X platform, "The agreement is the result of joint efforts made by delegations from all parties," noting that "the agreement opens the door to securing financial dues and ensuring the equitable distribution of wealth, thus enhancing the stability of Iraq in general and the region in particular."
The Ministry of Oil confirmed that the agreement with Kurdistan established clear technical and regulatory mechanisms that ensure smooth export flow, while renewing its firm commitment to managing oil resources in accordance with the principle of national sovereignty and the highest interest.
The ministry said in a statement received by (Al-Zaman) yesterday that (the agreement, which is the result of ongoing discussions over the past months, aims to strengthen Iraq’s position in the global energy market, preserve its sovereignty and national interests, while establishing technical and regulatory mechanisms that ensure transparency in revenues and support the state’s public finances).
The statement renewed (the ministry’s commitment to managing oil wealth in accordance with the principle of national sovereignty and the highest interest, and in a manner that achieves equitable distribution of resources among all Iraqi people ).
Eight international oil companies, which produce more than 90 percent of Kurdistan's oil, previously commented on the tripartite agreement to resume oil exports from the region.
In a joint statement, the eight companies said, "We are pleased to announce that we have reached preliminary interim agreements with the Iraqi government and the Kurdistan Region to resume exports via the Iraq-Turkey pipeline."
The companies expressed their "thanks for this achievement," stressing, "We expect this framework, once signed and implemented, will allow for the resumption of exports in the coming days, paving the way for long-term arrangements LINK
Al-Mandlawi Welcomes The Implementation Of The Oil Agreement Between Baghdad And Erbil, Stressing That It Will Contribute To Strengthening The Constitutional Partnership
Saturday, September 27, 2025, 15:59 | Economic Number of reads: 222 Baghdad / NINA / The First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, welcomed the start of implementing the recent oil agreement between the concerned authorities in the central and regional governments and foreign companies operating in the Kurdistan fields, which led to the delivery of (190) thousand barrels per day of crude oil produced in the region to the State Oil Marketing Organization (SOMO), through the Iraqi-Turkish pipeline, which will in turn market it through the port of Ceyhan in accordance with international contexts.
Al-Mandalawi stressed that this historic step would contribute to strengthening the foundations of cooperation between Baghdad and Erbil.
Al-Mandalawi said in a statement today, Saturday: This agreement, which was crowned with success after months of dialogue, is an important national achievement for implementing the three-year budget law and reorganizing the export of oil extracted in the region.
It is considered a guarantee of the rights of all Iraqis, as it leads to the distribution of the country's wealth fairly and transparently to all, maximizes state revenues, creates an encouraging climate for investment and stability, and contributes significantly to stimulating the economy and improving services, which will positively reflect on the reality of our dear governorates and the future of our honorable people.
He stressed The House of Representatives supports and follows up on the agreement, and is keen to strengthen the constitutional partnership between the central and regional institutions, leading to the consolidation of mutual trust and the strengthening of the foundations of the federal Iraqi state. /End
https://ninanews.com/Website/News/Details?key=1254011
Basra Crude Achieves Gains For The Second Consecutive Week.
economy | 10:07 - 09/27/2025 Mawazine News – Baghdad Basra crude oil posted gains for the second consecutive week at the close.
Basra Heavy crude closed its last session on Friday, up 15 cents at $68.24, recording weekly gains of $1.91, or 2.88%. Basra Medium crude also closed its last session up 15 cents at $69.78, recording weekly gains of $1.90, or 2.8%.
Oil prices rose, supported by Ukrainian attacks on Russia's energy infrastructure, which prompted Moscow to restrict fuel exports and move closer to cutting crude production.
https://www.mawazin.net/Details.aspx?jimare=267472
Transportation: Iraq Opens Its Doors To The World To Participate In The Project Of The Century
Money and Business Economy News – Baghdad Minister of Transport Razzaq Muhaibis affirmed on Saturday that the Development Road project represents a huge investment opportunity for Iraq, with investments estimated at more than $100 billion. He explained that the project is part of Iraq's efforts to diversify investment opportunities and revitalize the national economy.
The minister said, "The investment opportunity in the Development Road Project and the Grand Faw Port is the largest among those presented at the forum," stressing that "Iraq opens its doors to all countries to participate in the project."
He added that "the Sultanate of Oman has submitted an official request to join the project, while Turkey, the UAE, and Qatar have previously joined," reflecting widespread international interest in the initiative.
In April 2024, Iraq, Turkey, the UAE, and Qatar signed a quadripartite agreement on the Iraq Development Road Project, under the auspices of Iraqi Prime Minister Mohammed Shia al-Sudani and Turkish President Recep Tayyip Erdoğan.
The agreement aims to enhance cooperation regarding Iraq's strategic development project, as the four countries will work to establish the necessary frameworks for its implementation, according to a statement issued by the Prime Minister's Office. https://economy-news.net/content.php?id=60428
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