Iraq restarted crude oil shipments from Kurdistan to Turkey at 6 a.m. Saturday following a breakthrough agreement that ended disputes lasting two and half years. The federal government, Kurdistan regional authorities and international oil firms reached the interim deal after extended negotiations. Operations began smoothly without technical difficulties according to ministry officials. The resumption allows between 180,000 and 190,000 barrels daily to flow through the Kirkuk-Ceyhan pipeline to Turkish ports.
The United States supported efforts to restart exports that will eventually return 230,000 barrels per day to global markets. Companies operating in the region receive $16 per barrel covering production and transportation expenses. The pipeline stopped operating in March 2023 when an international court ordered Turkey to pay Iraq $1.5 billion for unauthorized Kurdish exports.
The United States supported efforts to restart exports that will eventually return 230,000 barrels per day to global markets. Companies operating in the region receive $16 per barrel covering production and transportation expenses. The pipeline stopped operating in March 2023 when an international court ordered Turkey to pay Iraq $1.5 billion for unauthorized Kurdish exports.
