Revealing its role, Washington: The Baghdad-Kurdistan agreement will enhance regional energy security.
US Secretary of State Mike Rubio revealed on Thursday Washington’s role in the Baghdad-Kurdistan Region agreement to resume oil exports, stressing that it will enhance “regional security.”
“We welcome the announcement that the Government of Iraq has reached an agreement with the Kurdistan Regional Government and international companies to reopen the Iraq-Turkey pipeline, an agreement facilitated by the United States that will deliver tangible benefits to Americans and Iraqis alike,” Rubio said in a press statement.
He added, “We commend the decisive efforts of Iraqi Prime Minister Mohammed Shia al-Sudani and senior Iraqi government officials, as well as Kurdistan Regional Government Prime Minister Masrour Barzani and senior KRG officials, to achieve this progress.”
He continued, “This agreement will strengthen the mutually beneficial economic partnership between the United States and Iraq, encourage a more stable investment environment across Iraq for American companies, enhance regional energy security, and strengthen Iraqi sovereignty.”
Iraqi Prime Minister Mohammed Shia al-Sudani announced Thursday evening that he had reached an oil agreement with the Kurdistan Region, describing it as “historic.” The federal Ministry of Oil indicated that the agreement is the result of ongoing efforts over the past months to establish clear mechanisms to ensure smooth export flows and transparency in revenues .
It’s worth noting that the Kurdistan Regional Government’s Ministry of Natural Resources, the Iraqi Ministry of Oil, and oil companies signed a tripartite agreement last Monday, paving the way for the resumption of the export of Kurdistan Region oil via the Ceyhan pipeline.
Kurdistan Region oil exports were halted on March 25, 2023, following an international arbitration ruling requiring Turkey not to allow the region’s oil exports without the approval of the federal government in Baghdad .
Since then, shipments of an estimated 450,000 barrels per day have been disrupted, including 400,000 barrels from the Kurdistan Region and 50,000 from the northern Kirkuk fields. This disruption has resulted in daily financial losses exceeding $30 million, according to unofficial estimates.
Shafaq.com