AM:10:19:27/04/2025
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Sulaymaniyah, Kurdistan Region — Epicur, the association representing oil companies, announced on May 20 that no agreement has been reached with the Iraqi government and the Kurdistan Regional Government (KRG) to resume oil production and exports from the Kurdistan Region.
In a statement issued on Sunday, Epicur confirmed that its member companies are prepared to resume oil exports immediately. However, they stressed that any such resumption hinges on securing an agreement that ensures the full payment of outstanding debts to the companies.
Epicur further emphasized that the Iraqi government must guarantee the implementation of the Iraqi budget law and that any agreement regarding payments should be aligned with international consulting standards, in line with both the Iraqi budget law and existing oil company contracts.
Despite both the federal government in Baghdad and the KRG expressing willingness to explore potential solutions, Epicur revealed that there have been no meaningful discussions regarding payment assurances, and no significant progress has been made on resolving the issue.
A spokesperson for the Epicur Association mentioned that several proposals have been put forward to address the situation, but the association has yet to see any tangible results.
This ongoing deadlock has left the future of oil exports from the Kurdistan Region uncertain, with concerns over the financial stability of the companies involved and the potential impact on the regional economy.