Friday, August 2, 2024

Iraq tests pumping oil flows to Turkey’s Ceyhan after pipeline repairs, 2 AUGUST

 Baghdad (IraqiNews.com) – An official in the North Oil Company (NOC), a state-run oil company headquartered in Kirkuk, revealed on Wednesday that the company carried out an experimental test of crude oil pumping after the required repairs to the Iraq-Turkey oil pipeline had been completed.

The official told Shafaq News that oil flows had stopped based on government instructions related to the resumption of oil exports from oilfields in Kirkuk to the Turkish port of Ceyhan.

The repairs included parts that were damaged by ISIS terrorist groups between the governorates of Kirkuk, Salah Al-Din, and Nineveh and all the way to the Iraqi-Turkish border, according to the Iraqi official.

In June, the Iraqi Ministry of Oil asked for a meeting with the Ministry of Natural Resources in the Kurdistan region of Iraq and foreign companies operating in northern Iraq.

Talks to resume oil shipments have stumbled, and since March 2023, crude oil flows along the Iraq-Turkey oil pipeline, which formerly handled around 0.5 percent of the world’s oil supply, have been suspended due to legal and financial uncertainty.

One of the main sources of conflict between the federal government in Baghdad and the Kurdistan Regional Government (KRG) is the distribution of oil revenues.

After the International Chamber of Commerce (ICC) in Paris decided in March 2023 that Ankara had broken a 1973 treaty by enabling oil exports without the federal government’s approval, flows via the Iraq-Turkey oil pipeline were stopped.

https://www.iraqinews.com/iraq/iraq-tests-pumping-oil-flows-to-turkeys-ceyhan-after-pipeline-repairs/

No comments:

Post a Comment

DINARLAND UPDATE @DINARREVALUATION