Iraq Revives Kurdistan Production in Bid to Rescue Oil Revenues

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Iraq’s Prime Minister Ali Falih Al-Zaidi ordered the resumption of oil production in the Kurdistan region to boost oil revenues amid closure of the strategic Strait of Hormuz. The directive involves collaboration between Kurdistan Regional Government and oil companies, emphasizing joint action to sustain exports.

Iraq’s Prime Minister Ali Falih Al-Zaidi has directed oil companies operating in the semi-autonomous region of Kurdistan to resume operations beginning on Thursday, as OPEC’s second-largest producer scrambles to export crude with the Strait of Hormuz de facto closed. At a meeting with executives from oil companies operating in Kurdistan and top officials from the Kurdistan Regional Government (KRG), Al-Zaidi directed companies to restart activities on Thursday, “emphasizing the importance of joint action and the provision of an…