Hungary's MOL to restart crude exports from Iraq's Kurdistan
Hungarian refiner MOL Group has signed agreements to resume international crude oil exports from Iraq's Kurdistan region, it said on Friday, marking a key step toward restoring operations halted since spring 2023.
The agreements involve international exploration and production companies, the Kurdistan Regional Government, and the Federal Government of Iraq.
MOL expects the crude oil pipeline connecting the region to Turkey's port of Ceyhan to reopen in the coming days.
"We are optimistic about the reopening of the pipeline and the positive impact it will bring to our operations," MOL said in its statement.
The pipeline closure earlier this year disrupted crude exports from the region, impacting revenues for oil firms operating in Kurdistan.
MOL has a 20% stake in the Shaikan oil field in Iraq's Kurdistan.
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