The Turkish Oil Minister, Alparslan Bayraktar, announced that the pipeline transporting Iraqi oil to the Turkish port of Ceyhan is ready to operate, and that the line could begin receiving oil during the current week.
Bayraktar said in a press statement today, Monday, during the ADIPEC conference in Abu Dhabi: “Turkey is determined to resume operation of the oil transport pipeline from Iraq to Turkey this week, and it will be able to transport approximately half a million barrels to global markets.”
On March 25, Turkey stopped oil flows after an arbitration panel affiliated with the International Chamber of Commerce ordered Ankara to pay compensation to Baghdad worth approximately $1.5 billion for the damage resulting from the Kurdistan Regional Government’s illegal export of oil between 2014 and 2018.
Last August, Iraqi Oil Minister Hayan Abdul Ghani agreed with Turkish Energy Minister Alparslan Bayraktar in Ankara on the importance of resuming the flow of Iraqi Kurdistan oil to Turkey, after the completion of pipeline rehabilitation operations.
Bayraktar had announced several days ago that the oil export pipeline from northern Iraq via Turkey would be ready to resume operations soon after conducting checks to maintain the line and repair the damage resulting from the floods.
Bayraktar stated that the inspection of the oil pipeline has been completed and it will be “technically” ready for operation soon.
Source: National Iraqi News Agency