Kurdistan Region official says international oil firms formally resume operations

ARBIL, Iraq — A Kurdistan Regional Government official said on Monday, August 24, 2026, that all international oil companies operating in the region had formally resumed production and operations. The official said the move would increase gasoline supply and lower prices in local markets. According to the official, foreign oil companies have returned to Kurdistan fields and are gradually restoring crude oil output to previous levels. Companies are receiving crude as "physical payment" rather than cash, with part of the oil sold to local refineries and traders, the source said. The official attributed recent fuel shortages and rising gasoline prices largely to the suspension of operations. With fields back online and sufficient crude reaching local refineries, the supply gap is expected to close and consumer gasoline prices are projected to fall noticeably in the coming days.