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Iraq: Resuming Kurdistan oil exports via Türkiye will take some time
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Economy News _ Baghdad
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Added 04/23/2024 - 8:59 AM
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Economy News _ Baghdad
The Iraqi government said that the return of oil exports from Kurdistan to Turkey via the pipeline, which has been closed for more than a year, will take longer as negotiations continue with the regional government and oil producers.
Government spokesman Bassem Al-Awadi added in a statement to reporters that the talks between companies and the Iraqi Oil Ministry are likely to take some time, especially since Baghdad is working to establish a direct relationship with regard to production quantities, exports and prices, explaining that there is no specific time frame for resolving negotiations with companies. Foreign oil in the region.
The closure of the pipeline that extends to the Turkish port of Ceyhan led to the removal of nearly half a million barrels of oil daily from global markets at a time when crude oil prices in London were hovering below $90 per barrel. Turkey, which claimed the link was closed because it needed repairs after two massive earthquakes in February last year, said in October it was ready to operate and that it was up to Iraq to resume flows.
Al-Awadi indicated that Turkey is ready to receive Iraqi oil from Kurdistan fields and there is no problem with exporting through the port of Ceyhan.
He added that the issue needs time between Kurdistan and the Ministry of Oil in Baghdad.
Views 113
Added 04/23/2024 - 8:59 AM
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