BREAKING NEWS: Iraqi-Turkish oil pipeline to resume operations soon
According to Alparslan Bayraktar, the Turkish Minister of Energy and Natural Resources, the oil pipeline between northern Iraq and Turkey will be operational on Wednesday. Ankara is preparing to export oil from Ceyhan port in the Mediterranean soon.
Turkey had stopped oil flows through the pipeline in northern Iraq on March 25, after the International Chamber of Commerce (ICC) ordered Ankara to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government (KRG) exporting oil without permission from the federal government in Baghdad between 2014 and 2018.
Before the pipeline was closed, the Kurdistan Region of Iraq exported approximately 450,000 barrels of crude oil per day.
According to Turkish officials, the pipeline passes through a seismically active area and was damaged by floods.
During his participation in the ADIPEC conference in Abu Dhabi on Monday, the Turkish Minister of Energy said that Turkey would resume the operation of the pipeline transporting crude oil from Iraq this week.
According to the Turkish minister, his country is a reliable oil and gas transportation route.
On Tuesday, an Iraqi oil official said that talks are still underway to resume oil exports from northern Iraq through the pipeline between Iraq and Turkey.
