MOL Group to Restart Crude Exports from Iraq

Hungary's MOL Group has signed an agreement to restart international crude exports from the Kurdistan Region of Iraq, MOL Plc. has notified market participants on the website of the Budapest Stock Exchange.

The statement says that MOL, as an integrated oil and gas company with interests in Exploration and Production (E&P) assets in the Kurdistan Region of Iraq (“KRI”), has signed agreements with other international E&P companies active in KRI, the Kurdistan Regional Government, and the Federal Government of Iraq on the restart of the international crude exports from KRI.

In light of the agreements, MOL expects that the crude oil pipeline from KRI to the Turkish port city of Ceyhan, closed to exports since the spring of 2023, is to be reopened in the coming days.

MOL holds 20% interest in the Shaikan oil field and expects price realization to be affected positively by the reopening of the pipeline.

MOL’s production share in the Shaikan oil field amounted to 4.6 mboepd in the first half of 2025, 5% of the Group’s total hydrocarbon production.