Ongoing talks to resume oil exports through Turkey

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Ongoing talks to resume oil exports through Turkey

On Tuesday, an Iraqi official in the oil sector revealed that talks to resume oil exports from northern Iraq through the pipeline between Iraq and Turkey are still ongoing.

The statements of the Iraqi official took place a day after Turkey announced that it would resume operation of the pipeline transporting crude oil from Iraq this week after a suspension lasted for about six months, according to Reuters.

The anonymous Iraqi official explained that Turkey’s seriousness towards outstanding issues will be more apparent after upcoming meetings.

During his participation in the ADIPEC conference in Abu Dhabi, the Turkish Minister of Energy and Natural Resources, Alparslan Bayraktar, announced on Monday that Turkey will resume operation of the pipeline transporting crude oil from Iraq this week.

There has been no statement from the Iraqi authorities in response to this development. Let me know if you need any further assistance.

On March 25, Turkey halted oil flow through a pipeline in northern Iraq. The reason for this was that the International Chamber of Commerce (ICC) had ordered Ankara to pay $1.5 billion to Baghdad as compensation for damages caused by the Kurdistan Regional Government (KRG) exporting oil without permission from the federal government in Baghdad between 2014 and 2018.

According to Turkish officials, Turkey began maintenance on a pipeline damaged by floods and passed through a seismically active area.

The pipeline closure halted the Kurdistan Region of Iraq’s 450,000 daily crude oil exports.

Sources have informed Reuters that Turkish President Recep Tayyip Erdogan may travel to Baghdad in October to resolve the issue.

In April, Iraq submitted a petition to a US federal court to implement the decision issued by the ICC.

According to sources, the lack of a solution to this issue was one reason for postponing Erdogan’s scheduled visit to Iraq in August.