Baghdad: Iraq's North Oil Company announced the resumption of oil exports via Trkiye's Ceyhan port, marking the first crude flows from the Kirkuk fields in nearly three years. The operations, which have been on hold, are now active through the Saralo pumping station, with an initial export capacity set at 250,000 barrels per day.

According to Anadolu Agency, the restart of these operations follows a crucial agreement between Iraq's federal government and the Kurdistan Regional Government (KRG). This agreement aims to reactivate a significant export route, thereby bolstering Iraq's oil export system. The KRG confirmed on Tuesday that it had reached an understanding with Baghdad to resume oil exports through the northern region to Trkiye's Ceyhan port.

This development occurs against the backdrop of heightened global energy concerns, particularly involving the Strait of Hormuz. The strait has become a focal point following its closure by Iran's Islamic Revolutionary Guard Corps. The closure serves as a retaliation for recent US-Israeli attacks that have resulted in approximately 1,300 casualties in Iran since late February. This strategic chokepoint previously facilitated the passage of around 20 million barrels of oil daily. Its disruption has significantly impacted global oil prices.

In light of these challenges, Iraq's Oil Ministry had announced on Sunday its readiness to recommence crude exports through the northern pipeline to Ceyhan Port, especially given the disruptions affecting southern export routes linked to the ongoing Strait of Hormuz crisis.