Investment Opportunity in Ziyen.com, the owner of Rebuilding Iraq

+44(0) 800 772 3004
marketing@ziyen.com

Kurdistan Deal Required For Kirkuk Oil Exports To Resume

Iraq and Turkey must reach a deal with the KRG according to Kurdish officials

Iraq and Turkey must reach a deal with the KRG before the export of oil from Kirkuk fields through Turkey can be resumed. 

With the Iraqi government taking control of Kirkuk oil fields in October last year, exports of around 300,000 barrels of crude oil per day have ceased through the pipeline to the Ceyhan port in Turkey. 

In a visit to Ankara this week, Iraqi Prime Minister Haider al-Abadi reportedly reached a deal with Turkish President Erdogan to sell Kirkuk's crude oil via Turkey by utilizing a new pipeline near the Syrian border, minimizing the crossing of Kurdish land. However Kurdish officials have revealed that a deal must be struck with the KRG before any plans can proceed.

The KRG Prime Minister Nechirvan Barzani revealed last week that exporting Kirkuk’s oil via Turkey was the main priority for discussions between Kurdistan and Iraq. At present, KRG controlled fields export around 350,000 bpd via the pipeline to Ceyhan, which is only around half of the regions exporting capacity.

Source: OilPrice.com

 

Categories

Read more news like this