Turkiye’s General Energy pushes to resume oil exports from Kurdistan
Shafaq News/ On Tuesday, Turkiye’s General Energy announced that it will continue working with oil companies in the Kurdistan Region to resume crude exports.
Genel Energy urged Iraq’s federal government to ratify its oil contracts in the Kurdistan Region to protect the rights of all stakeholders, stressing the need for Baghdad to approve the contracts and settle previous outstanding payments.
In its 2024 annual report, the company reported revenues of $74.7 million last year, down from $78.8 million in 2023, reflecting a decline in earnings.
On March 5, sources told Shafaq News that the payment mechanism for production and transportation costs remains a major hurdle in resuming oil exports from Kurdistan’s fields to Turkiye’s Ceyhan port via the federal oil marketing company, SOMO.
