Kurdistan: Resumption of oil exports will begin within the next 48 hours.

The Kurdistan Regional Government’s Ministry of Natural Resources announced on Thursday that the region’s oil exports will resume within the next 48 hours.

The ministry said in a statement received by Shafaq News Agency, “Following the tripartite agreement between the ministry, the federal Ministry of Oil, and the region’s oil production companies, the export process is scheduled to begin within the next 48 hours.”

She added, “The agreement paves the way for a more equitable distribution of oil wealth, strengthens cooperation with Baghdad, and ensures continued flow through approved official ports.”

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 this agreement is the result of ongoing efforts over the past months to establish clear mechanisms to ensure smooth export flows and transparency in revenues.

Al-Sudani stated in a post on the “X” platform, followed by Shafaq News Agency, “Today, we reached a historic agreement under which the federal Ministry of Oil will receive crude oil produced from fields located in the Kurdistan Region and export it via the Iraq-Turkey pipeline.”

He considered that “this ensures the equitable distribution of wealth, diversifies export outlets, and encourages investment,” concluding his post by saying, “This is an achievement we have waited 18 years for.”

In turn, the Iraqi Ministry of Oil announced in a statement received by the agency that an agreement had been reached stipulating the commencement of pumping and delivering all crude oil produced from fields located in the Kurdistan Region – except for the quantities allocated for local consumption – to the State Oil Marketing Organization (SOMO), within Iraq, so that the company will export it via the Iraqi-Turkish pipeline via the Turkish port of Ceyhan, in accordance with approved fundamental procedures, the constitution, the provisions of the Federal General Budget Law, and Federal Court decisions.

According to the ministry, “This agreement is the result of intensive efforts and ongoing discussions over the past months, stemming from a shared national vision aimed at strengthening Iraq’s role as a major player in the global energy market, preserving Iraq’s sovereignty, and rigorously defending its national interests and the rights of all Iraqis.”

She explained that “the agreement includes establishing clear technical and regulatory mechanisms to ensure smooth export flow and transparency in oil revenues, which will contribute to strengthening the state’s public finances and increasing federal budget revenues. This will positively impact the government’s ability to implement service and development projects and provide the foundations for economic stability for Iraq and its people from north to south and from east to west.”

Shafaq.com

Al-Sudani points to a historic agreement with the Kurdistan Region: We waited 18 years for it.

Iraqi Prime Minister Mohammed Shia al-Sudani announced Thursday evening that he had reached what he described as a “historic” oil agreement with the Kurdistan Region.

Al-Sudani stated in a post on the “X” platform, followed by Shafaq News Agency, “Today, we reached a historic agreement under which the federal Ministry of Oil will receive crude oil produced from fields located in the Kurdistan Region and export it via the Iraq-Turkey pipeline.”

He considered that “this ensures the equitable distribution of wealth, diversifies export outlets, and encourages investment,” concluding his post by saying, “This is an achievement we have waited 18 years for.”

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 through the Ceyhan pipeline.

According to sources who spoke to Shafaq News Agency at the time, pumping operations are expected to resume within the next two days, after a forced shutdown that cost Iraq and the Kurdistan Region huge financial losses exceeding billions.

Kurdistan Region’s oil exports were halted on March 25, 2023, following an international arbitration ruling requiring Türkiye 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.

Observers also believe that the agreement is not limited to the technical aspects related to pumping and export operations, but rather extends to a political understanding between Baghdad and Erbil.

The oil issue is one of the most contentious issues between the two sides, and the new understanding is expected to contribute to strengthening mutual trust and opening the door to addressing other issues, such as the salaries of the region’s employees and Kurdistan’s share of the federal budget.

According to experts, the resumption of the region’s oil exports via the Ceyhan pipeline will contribute to stabilizing Iraqi oil supplies to global markets, particularly European markets, which are increasingly dependent on Iraqi oil following geopolitical tensions in the region.

The agreement will also restore balance to the relationship between the Iraqi Ministry of Oil and the Kurdistan Regional Government’s Ministry of Natural Resources, after years of disputes over field management powers and contracts with foreign companies.

Shafaq.com

The Green Bird is close to returning to European skies.

The Parliamentary Transport and Communications Committee announced tangible progress in lifting the European ban on Iraqi Airways, paving the way for the resumption of flights over European airspace after meeting approved international requirements. Committee member Karwan Ali Yaroos explained to Al-Sabah that Prime Minister Mohammed Shia al-Sudani personally followed up on the file, held meetings with the company’s management, and granted it full powers stipulated in the Public Companies Law. He also directed communication with the International Air Transport Association (IATA) consultant to activate previous contracts, complete the requirements for lifting the ban, and restore the company’s full membership through the IOSA (Internal Operational Safety Audit) program.

Yarois indicated that the company has concluded an agreement with the International Federation to conduct a comprehensive assessment to obtain the IOSA certification. The program is divided into two phases, the first of which includes preparing work manuals, experimental auditing, and final corrections. This phase is scheduled to be completed by the end of December 2025, followed by obtaining the TCO certification and exiting the European ban.

Alsabaah.iq

International Report: The US is intensifying its pressure on Baghdad through banks.

A report by the German website BNI IntelliNews revealed on Thursday that the United States is exerting pressure on the Iraqi government and tightening supervision over Iraqi banks to force Iraq to sever its political and economic ties with Iran.

The report, which was translated by Al-Maalomah Agency, stated that “according to three Iraqi officials who declined to be identified, the United States is targeting the Iraqi banking sector through a monitoring mechanism aimed at preventing the use of financing channels. Some Iraqi financial institutions have been identified as being subject to US sanctions.

The report explained that “public and private banks are subject to tight supervision by the US Treasury Department, with all international transactions being transferred through intermediary banks in Jordan and the UAE.” A source in the Iraqi Foreign Ministry also confirmed that Washington is pushing for the prosecution of Iraqi faction leaders. A member of parliament added that dissolving or integrating the Popular Mobilization Forces into the official Iraqi security apparatus is one of the main demands of the United States.”

The report continued, “The number of Iraqi banks subject to sanctions has reached 28 banks, accused by the United States of trading with Iran. Pressure has also extended to the Iraqi energy sector. Washington recently blocked a plan to import Turkish gas via Iran, and last March, the Trump administration revoked the sanctions waiver that allowed Iraq to pay for Iranian electricity.”

At the beginning of September, the Iranian president emphasized Iraq’s strategic importance to Iran’s regional policy, describing bilateral relations as “exceptional and strategic.” Iraq attempted to pass a law establishing the Popular Mobilization Forces, but it was voted on by parliament as a result of objections from some political blocs and increasing external pressure, particularly from the United States.

Almaalomah.me

Iraq’s oil export revenues exceed $7 billion in a month.

Iraqi oil exports exceeded 104 million barrels in August, generating revenues of more than $7 billion, according to SOMO.

In a statement obtained by Shafaq News Agency, SOMO said that Iraq’s total oil exports for last August amounted to 104,806,884 barrels, generating revenues exceeding $7.16 billion, according to the final statistics issued by the State Oil Marketing Organization (SOMO).

SOMO stated that crude oil exports from fields in central and southern Iraq amounted to 103,895,706 barrels, while exports from the Qayyarah field amounted to 911,178 barrels.

She pointed out that no oil was exported to Jordan during this month.

Shafaq.com

Media Commission: Digital transformation has become essential for Iraq.

Nawfal Abu Raghif, head of the Communications and Media Commission, emphasized the necessity of digital transformation in Iraq on Thursday, noting that the commission believes that digital transformation is no longer a secondary issue but rather an essential matter for the country.

“This is a unique national and international achievement, achieved through the combined efforts of everyone, not just one party, but rather the result of a combination of noble efforts, steps taken, and a modern pursuit of previous experiences,” Abu Raghif said in a speech he delivered during the launch ceremony of the Iraq International Information and Communication Technology Conference (ITEX ), which was attended by a Shafaq News correspondent.

He added, “The Communications and Media Commission has worked in cooperation with partners in the public and private sectors and has effectively begun to enhance security to capitalize on efforts to achieve sustainable development.”

Abu Raghif explained, “This event is no longer optional, but rather a fundamental necessity, as it serves as a platform for exchanging ideas and experiences and provides opportunities for youth. The Communications and Media Commission believes that digital transformation is no longer a secondary issue, but rather a necessity.”

For his part, Advisor Diaa al-Jumaili said in a speech delivered on behalf of Prime Minister Mohammed Shia al-Sudani, “Iraq is working to establish skills and awareness development in all fields, and to use artificial intelligence technologies in education to meet the ambitions and aspirations of young people.”

He added, ” ITEX in Iraq is not just a technology event, but a national platform that brings together innovative research to address challenges and support innovation and entrepreneurship. This event represents a step towards building a thriving digital economy that keeps pace with global technological developments.”

Shafaq.com

Fines imposed on candidates and political alliances, including al-Sudani, al-Maliki, and al-Mandlawi.

The Iraqi Electoral Commission announced on Thursday that it had imposed fines on 24 candidates and six political alliances for violations of electoral campaign regulations.

Commission documents obtained by Shafaq News revealed that the Board of Commissioners decided to impose fines totaling 2 million dinars on 23 election candidates and six political parties and alliances for violating the election campaign regulations.

Another document also showed that the council imposed a fine of 5 million dinars on another candidate for starting his election campaign prematurely, according to the document.

The fines included the Reconstruction and Development Coalition led by Prime Minister Mohammed Shia al-Sudani, the State of Law Coalition led by Nouri al-Maliki, the Foundation Alliance headed by Mohsen al-Mandalawi, and other candidates.

The Board of Commissioners also decided to exclude three candidates and notify nine others to provide proof of their innocence within 72 hours, according to a document issued by the Board .

The Iraqi Council of Ministers set November 11, 2025, as the date for the next parliamentary elections. The Electoral Commission announced that candidate campaigning will begin on October 8 and continue until 24 hours before the start of special voting.

About 30 million Iraqis out of a population of 46 million are eligible to participate in these elections.

Shafaq.com

Hussein: Iraq’s losses from the suspension of Kurdistan Region oil exports amount to approximately $25 billion.

Iraqi Foreign Minister Fuad Hussein said that the country has incurred losses ranging between $22 and $25 billion due to the halt in oil exports from the Kurdistan Region, and that flows are likely to resume this week.

This figure represents an increase from previous estimates of losses of $19 billion as of last February.

This comes as the region and most operating oil companies have signed an agreement to resume exports. However, the agreement still requires formal approval from the federal government in Baghdad, according to a statement from the regional government’s Ministry of Natural Resources.

The ministry stated that it is still awaiting a response from the federal oil ministry, while the state-run oil marketing company SOMO stated that the agreement is in its “final stages.”

KRG spokesman Peshwa Hawrami indicated that exports could begin within 48 hours of the full agreement being concluded.

The resumption of pumping through the pipeline linking Kurdistan and Turkey is expected to result in an initial flow of approximately 230,000 barrels per day to global markets, amid concerns of an oil glut due to increased production by the OPEC+ alliance.

The region was pumping about 500,000 barrels per day before exports halted in March 2023, following an arbitration ruling requiring Ankara to pay $1.5 billion to Baghdad, prompting Türkiye to halt use of the pipeline.

In July, the region agreed to hand over its oil to SOMO for international sale, a move to defuse the protracted dispute over oil revenues.

Baghdad also invited the regional government and representatives of foreign oil companies to a new meeting to discuss the details of resuming exports and ensuring payment of financial arrears.

Companies such as Norway’s DNO and General Energy have emphasized their desire for clear guarantees for payment of overdue receivables and clarification of the payment mechanism for future exports.

The list of foreign companies operating in the region includes: Gulf Keystone Petroleum, HKN Energy, Shamaran Petroleum, and Hunt Oil.

Shafaq.com

Al-Sudani’s advisor: Iraq is experiencing a rare “price boom” in its modern economic history.

The Prime Minister’s financial advisor, Mazhar Mohammed Salih, revealed on Thursday that Iraq is experiencing a rare “price boom” unprecedented in its modern economic history. This boom is driven by low inflation rates, a remarkably stable exchange rate, and improved unemployment rates, all due to effective coordination between monetary, fiscal, and trade policies.

Saleh told Shafaq News Agency, “The inflation rate in Iraq has remained below 3% over the past three years, which is a low rate compared to what the country has experienced previously or what neighboring countries are witnessing.”

The government advisor attributed this success to “the cautious monetary policy pursued by the Central Bank of Iraq, in coordination with fiscal and trade policies, which contributed to maintaining the purchasing power of the dinar.”

He explained that “unemployment rates fell from 17% to 14% in a relatively short period, supported by economic policies aimed at stimulating the agriculture, investment, and trade sectors, while supporting local production played a direct role in creating new job opportunities.”

Regarding the dollar exchange rate, Saleh explained that “the official rate of 1,320 dinars has maintained its stability, which has helped calm markets and limit the role of the parallel market, thereby reducing import costs and limiting price pressures on consumers.”

He stressed that “fiscal policy played a pivotal role in controlling prices, with approximately 25% of the general budget (equivalent to 13% of GDP) allocated to support agricultural products, food and medicine baskets, fuel, and electricity, in addition to tax and customs exemptions, which eased the direct burden on citizens.”

Within the framework of trade policy, Saleh pointed to the establishment of a network of cooperative-price stores (consumer and construction) that would help break monopolies and provide direct alternatives for goods, as part of what he described as “price defense,” an effective tool for regulating markets and preventing unjustified price increases, according to the spokesman.

Despite the positive signs, the financial advisor warned of a potential challenge at this stage: “Commodity leakage across borders, due to price differences between the subsidized Iraqi market and neighboring markets. This requires tightening customs and trade controls without harming legitimate trade.”

Saleh concluded, “The current ‘price boom’ Iraq is witnessing, a rare phenomenon in its modern economic history, must be built upon by rationalizing support and directing it toward productive sectors to achieve sustainable development, rather than relying solely on stability and consumption.”

Shafaq.com

Al-Sudani defends his government’s performance: What has been achieved is much greater than what some are trying to minimize.

Prime Minister Mohammed Shia al-Sudani on Thursday considered the “achievements” achieved during the current federal government he heads to be “much greater than what some are trying to understate.”

This came in a speech he delivered during the National Job Day ceremony, which was adopted by the government at the level of all Iraqi governorates.

In his speech, Al-Sudani said, “Economic reform cannot be achieved without financial and banking reform,” adding, “Iraq has achieved a significant accomplishment that has made it trustworthy among financial institutions.”

He added, “International banks have taken the initiative to enter the Iraqi banking sector, and we have established relationships with all global financial institutions.”

Al-Sudani also pointed out that “state institutions and the civil service sector are concerned with ensuring the success of the private sector experience, which contributes to creating a new work reality and job opportunities.”

The Prime Minister emphasized reform and support for the private sector as a partner in solving problems in services, housing, agriculture, and other sectors, adding, “Our assessment of progress rates is professional, and there is also criticism and monitoring of delays and procrastination.”

Shafaq.com