The Association of the Petroleum Industry of Kurdistan (APIKUR) is urging the Iraqi government and the Kurdistan Regional Government to engage in tripartite talks to reopen the Iraq-Türkiye Pipeline (ITP). The association has outlined conditions for resuming exports, including payment surety and direct payments.
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| With $20 billion lost since the closure, APIKUR demands urgent action from the Iraqi Government and Kurdistan Regional Government to restore oil exports through the ITP. Image Courtesy: APIKUR |
New York, USA - September 24, 2024:
The APIKUR statement highlights the urgent need to address the ongoing dispute over oil exports through the ITP. The halt of exports has had significant economic consequences for all parties involved, with an estimated $20 billion lost since March 2023.
The association's call for tripartite talks is a crucial step towards resolving the impasse. By bringing together all relevant stakeholders, including the Iraqi government, the KRG, and international oil companies, it is possible to negotiate a mutually beneficial solution that allows for the resumption of exports.
The conditions outlined by APIKUR, such as payment surety and direct payments, are essential to ensure the long-term sustainability of the ITP. By addressing these concerns, the parties can establish a framework for future cooperation and avoid similar disruptions in the future.
Overall, the APIKUR statement serves as a reminder of the critical importance of the ITP to the economies of Iraq and the region. By working together to resolve the current dispute, the parties can unlock the full potential of this vital infrastructure and contribute to the economic prosperity of both Iraq and Türkiye.