Federal Iraqi state marketer Somo has begun allocating volumes to IOCs operating in the Kurdistan Region to reconcile payments for oil exports made in late-2025. Gulf Keystone and Shamaran both announced on 15 October that Somo has allocated an additional cargo to IOCs in this month’s lifting program.
This is the first ‘top-up payment’ made under last year’s tripartite agreement that enabled exports to restart through the Iraq-Turkey Pipeline (ITP) (MEES, 26 September 2025). (CONTINUED - 184 WORDS)