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Kurdistan Oil Exports Linked to Payment Guarantees

The Kurdistan Region pushes forward talks to restart oil exports. However, the “payment guarantees” demanded by oil companies remain a key issue. The Association of the Petroleum Industry of Kurdistan (APIKUR) supports efforts to reopen the Iraq-Turkey Pipeline. Yet, they insist on solid agreements before any oil flows again.

APIKUR shares its views on the negotiations. Leaders welcome talks between the Kurdistan Regional Government (KRG) and the Iraqi federal government. Officials aim to resume exports soon. The “payment guarantees” demanded by companies are vital for trust.

International oil companies (IOCs), including APIKUR members, met with both governments. They show readiness to restart exports. However, they demand agreements that protect their rights. Companies want contracts honored under international law.

Moreover, oil firms want clear payment plans. They call for immediate and transparent payments. These payments might be in cash. Or, they could receive oil as their share, known as “in kind.” Companies stress that these terms must suit both sides.

APIKUR’s spokesperson, Myles B. Caggins III, speaks firmly. He says APIKUR members will export oil only after signing written agreements. These deals must respect all existing contracts. He also states that companies never accepted any contract changes that harm their rights.

APIKUR repeats its focus on “payment guarantees.” Without them, exports will remain on hold. The group also highlights that contracts follow international laws. Companies seek protection for their investments and profits.

The pipeline shutdown has hurt the economy. Both Iraq and the Kurdistan Region suffer financial strain. People watch these negotiations with hope. Oil exports play a huge role in regional budgets.

At the same time, APIKUR continues to press its demands. Leaders will not compromise on the “payment guarantees.” They believe these guarantees ensure stability. Oil firms want fair treatment and respect for their work.

Finally, officials hope an agreement comes soon. Restarting oil exports would bring money and jobs. The “payment guarantees” remain the key that unlocks progress. The Kurdistan Region’s future ties closely to these vital oil deals.

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