Iraqi Oil Minister: no agreement reached yet to resume oil exports from northern Iraq

Iraqi Oil Minister: no agreement reached yet to resume oil exports from northern Iraq
2023-05-03T16:16:22+00:00

Shafaq News/ On Wednesday, Iraqi Oil Minister Hayan Abdul Ghani announced that the federal government and the Kurdistan Regional Government (KRG) had not yet reached an agreement to restart oil exports from the northern region of Iraq to the Turkish port of Ceyhan.

Turkey halted the flow of 450,000 barrels per day (bpd) of northern exports through the Iraqi-Turkish pipeline on March 25 after the International Chamber of Commerce ruled in favor of Iraq in an arbitration case.

The Kurdistan Regional Government was exporting most of the oil through the pipeline.

The federal government exports around 75,000 bpd of federal crude through the same pipeline.

The International Criminal Court has ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the KRG's illegal oil exports between 2014 and 2018.

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