Epicor announces failure to reach an agreement with Erbil and Baghdad to resume Kurdistan oil exports.
Epicor announces failure to reach an agreement with Erbil and Baghdad to resume Kurdistan oil exports.
2025-04-27 00:43
Shafaq News/ The Kurdistan Regional Government’s (KRG) Oil Corporation (EPICOR) confirmed on Sunday that no agreement had been reached with the regional government and Baghdad regarding the re-export of oil through the Ceyhan pipeline, while explaining the legal problems facing its contracts.
“EPICOR,” in a statement received by Shafaq News Agency, said, “oil sector companies that are members of the APICOR Association participated in the meeting held on April 20 between the Kurdistan Regional Government and the Iraqi government to discuss the resumption of oil exports through the Iraq-Turkey pipeline, but unfortunately, no agreement was reached during the meeting.”
She added that “the association’s member companies are prepared to resume oil exports via the aforementioned pipeline, provided an agreement is reached that guarantees the payment of financial dues to the companies, in accordance with the contractual terms approved with international oil companies, in addition to the settlement of all debts owed by the government to those companies.”
She stressed the “need for the government to obtain official approval to ensure its commitment to implementing the Iraqi budget law,” noting that “the contracts concluded between the Kurdistan Regional Government and oil companies have not been recognized as legal and valid contracts by Iraqi courts, which requires that any agreement regarding the payment of companies’ dues include clear procedures in accordance with the budget law and oil company contracts.”
Epicor revealed that it had “submitted several proposals to both the federal government and the regional government, emphasizing that these proposals revolve around international working mechanisms based on the budget law and oil contracts,” noting that “the proposals have not yet been approved.”
Regarding the guarantees required for future oil export payments, she explained that “both governments have expressed their willingness to review the proposed options, but no substantive negotiations have yet taken place on this matter, and no tangible progress has been achieved.”
She pointed out that “the Iraqi government continues to emphasize the importance of resuming oil exports, but efforts in this direction have been limited and have not achieved practical results.”
shafaq.com
