Iraq invites global oil firms for talks on Kurdistan contracts

Iraq's Ministry of Oil said on Saturday it had invited global foreign companies operating under the Association of the Petroleum Industry of Kurdistan (APIKUR) umbrella, along with firms contracted by the Kurdistan Regional Government (KRG), to a meeting in Baghdad on March 4.

The talks are set to address issues related to existing contracts and seek agreements that align with international best practices for oilfield development while safeguarding national interests, the ministry said in a statement.

The Kurdistan Region's Ministry of Natural Resources is also expected to attend the discussions, which come amid ongoing efforts to streamline oil operations between Baghdad and Erbil.

Eight international oil firms operating in Iraq's semi-autonomous Kurdistan region said they would not resume oil exports through Turkey's Ceyhan on Friday despite an announcement from Baghdad that the restart was imminent.

The government said on Friday it would announce a resumption in the coming hours, with an initial amount of 185,000 barrels per day (bpd) exported through state oil marketer SOMO and that quantity gradually increasing.

The Association of the Petroleum Industry of Kurdistan (APIKUR), which represents 60% of production from the region, said later no formal contact had been made for clarity on commercial agreements and guarantees of payment for past and future exports.