ERBIL, Kurdistan Region of Iraq - There is currently no decision an the resumption of the Kurdistan Region’s oil export through Turkey’s Ceyhan, Turkish Ministry of Energy and Natural Resources told The New Region on Monday.

“No new decisions have been made and no time has been set,” the ministry said.

This comes as Iraqi Minister of Oil Hayyan Abdul Ghani told state media on Monday that the pipeline to export oil through Turkey’s Ceyhan is ready and exports could resume within two days. 

The minister added that the resumption is now pending Turkey’s approval.

Iraq will take 185,000 barrels of oil from the Kurdistan Region in the first stage of resuming exports through the Ceyhan pipeline, and will gradually increase with a goal of reaching 400,000 barrels exported daily, the Iraqi Ministry of Oil’s undersecretary Bassem Mohammed Khadhir told state media on Sunday.

Iraq and the Kurdistan Region’s oil ministries announced Sunday that they reached an agreement to resume the Region’s oil exports.

“Today, a joint technical team was formed to inspect the export pipeline and indicate its readiness,” read a statement by the Kurdistan Region’s negotiating team, adding Erbil and Baghdad are committed to “implementing the provisions of the Federal General Budget Law.”

The amendments to the federal budget law involved Article 12 of the Iraqi federal budget, which states that Baghdad will reimburse Erbil for the production and transportation cost of one barrel of oil at the average cost of production and transportation of the federal oil ministry  – which was previously valued at $6.
 
The international oil companies (IOCs) had repeatedly stated that the value set out in the budget was way lower than their expenses. The modifications to the law set the cost of production and transportation of a barrel of oil at $16.