Oil Daily | Iraq to Restart Kurdish Oil Exports Amid Pressure from U.S., Turkey Awaits Confirmation

【Oil-Producing Countries Dynamics】

The U.S. pressured Iraq to resume Kurdish oil exports via Turkey, threatening sanctions similar to those on Iran. Iraq’s oil minister announced exports from Kurdistan would restart, ending a two-year stalemate. However, unresolved payment and technical issues remain, and Turkey awaits Iraq's confirmation before reopening the pipeline.

The U.S. will not lift sanctions on Russia unless Moscow changes its behavior, Secretary of State Marco Rubio told European leaders. Following a U.S.-Russia meeting, Rubio reassured Europe that no deal would impact them without their consent. New U.S. sanctions have disrupted global oil trade, especially affecting Asia's alternative supply strategies.

【Latest Oil Policies】

The UK government proposed reforms to expedite clean energy projects, aiming to achieve clean power by 2030. Proposed changes include relaxing offshore wind planning criteria and reforming grid connection policies. These measures aim to provide certainty to investors and increase the UK’s offshore wind capacity to meet its energy goals.

【Company News】

Former U.S. Secretary of Energy Jennifer Granholm will join the boards of Edison International and Southern California Edison. Her experience in clean energy and cybersecurity will aid the utilities in advancing energy solutions. Edison International is involved in a consortium awarded a $600 million grant to enhance grid reliability.

【Industry News】

The UK needs up to $63 billion in power distribution network investments by 2050 to meet rising electricity demand. The National Infrastructure Commission's report calls for proactive energy regulation reforms. Current legislation is seen as complex, and changes are needed to encourage necessary investments in network capacity.