Iraq-Turkey oil pipeline to resume operation
The pipeline exporting crude oil from Kurdish-controlled northern Iraq to the Turkish port of Ceyhan is ready to resume operation, seven months after it was ordered closed by an international court ruling. On March 23, the Paris-based International Court of Arbitration ruled in favor of Baghdad against Ankara, finding that the latter breached a 1973 agreement by allowing the Kurdistan Regional Government to begin independent oil exports in 2014. The judgement confirmed that Iraqi national oil company SOMO is the only entity authorized to manage export operations through the Kirkuk-Ceyhan pipeline. The KRG, based in Erbil, has now acceded to these terms, agreeing to market through SOMO.
About 400,000 barrels of oil were being exported daily by Erbil through the pipeline, in addition to some 75,000 barrels from Kirkuk oil fields controlled by the Iraqi national government. (Rudaw, MEE)
Recent Updates
17 hours 51 min ago
20 hours 2 min ago
1 day 26 min ago
1 day 45 min ago
1 day 16 hours ago
1 day 17 hours ago
4 days 19 hours ago
4 days 23 hours ago
5 days 31 min ago
5 days 17 hours ago