Al-Marsoumi: Kurdistan does not actually own oil, and most of the fields are in the hands of foreign companies.
Al-Marsoumi: Kurdistan does not actually own oil, and most of the fields are in the hands of foreign companies.
8-14-2025
Information/Baghdad…
Oil expert and economist Nabil Al-Marsoumi emphasized that Iraq’s history with oil export pipelines is fraught with problems and challenges, noting that the Kirkuk-Banias pipeline via Syria is not the most appropriate option under the current circumstances.
Al-Marsoumi said in a tweet followed by Al-Maalouma Agency, “The Syrian line is the export line that has faced the most problems over the decades,” indicating that “restarting the Kirkuk-Banias line is not a realistic solution, and it would be more effective to start the line from Basra instead of Kirkuk.”
He added, “Iraq’s oil exports to European and American markets do not exceed 500,000 barrels per day, making the reactivation of this pipeline not a strategic priority at the present time.”
Al-Marsoumi addressed the agreement to resume oil exports from the Kurdistan Region, describing it as a “fragile, theoretical, and unworkable agreement,” likening it to “Valium pills” and “generic anesthesia.” He explained that “the region does not realistically own oil. Most of the fields are under the control of foreign companies, and it will not be able to deliver a single barrel to the government because it simply does not own it.”
The economic expert concluded his remarks by emphasizing that “any oil agreement that is not based on genuine national control over fields and production will remain vulnerable to collapse and political tensions.”
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