Officials from the Ministry of Oil met with representatives of the Oil Industry Association of Kurdistan, Epicor, to discuss resuming crude oil pumping through the Ceyhan line to Turkey.
The meeting was held in Dubai and attended by representatives from the association, Iraqi ministry, SOMO, and Iraqi North Oil Company, according to a statement by Epicor received by F.
The association consists of international oil and gas companies that directly or indirectly operate in Kurdistan. Many of these companies had to halt production due to the pipeline’s closure.
Turkey halted unauthorized oil exports from northern Iraq following a March ruling by the International Chamber of Commerce. Compensation was required for exports made between 2014 and 2018.
Last October, the Turkish Energy Minister stated that although the pipeline is ready for shipment, Iraq has not yet received official notification from Ankara.
During the meeting, representatives of the association and officials of the Ministry of Oil emphasized the urgent need to resume oil production and exports under mutually acceptable commercial terms.
Reuters reported that the meeting did not result in an agreement on next steps, citing an anonymous source.
Epicor’s Miles Caggins stated that the meeting was an initial step and they look forward to future meetings with stakeholders.
Iraq exports about 85% of its crude through ports in the south, while the northern route accounts for only 0.5% of global oil supplies as the country is the second largest oil producer in OPEC.
