Iraq oil sales
Baghdad (IraqiNews.com) – Iraq is in discussions with Swiss-based Vitol Group to handle crude sales once exports resume from the country’s northern region after a two-year halt, according to industry sources.
The potential involvement of Vitol, the world’s largest independent oil trader, comes as the Federal Government in Baghdad, the Kurdistan Regional Government, and several international oil companies implement agreements to restart pipeline shipments through Turkey.
The Iraq–Turkey pipeline, capable of transporting more than 400,000 barrels per day, has been shut since early 2023 due to legal and political disputes, cutting off a vital source of revenue.
Under the new framework, Iraq’s State Organization for Marketing of Oil (SOMO) will market Kurdistan crude at the Kirkuk blend price, with international oil companies reimbursed for production and transportation costs and paid in arrears from crude sales at Ceyhan.
International operators including ShaMaran Petroleum, DNO, Gulf Keystone and Genel Energy have all announced preparations to resume exports, with production already returning to capacity at key fields such as Sarsang, Atrush, Shaikan and Tawke.
Exports are expected to restart on Saturday, marking a critical step toward restoring financial stability for both Baghdad and Erbil, while signaling renewed confidence for international investors and traders in Iraq’s energy sector.
