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OIL: Iraq Suggest Possible Basra Oil Export Via "Imminent" Ceyhan Restart

OIL
Energy BulletsBulletCommodities

Iraq’s oil minister Hayyan Abdul Ghani today discussed the “the imminent” restart of exports via the Turkish port of Ceyhan in a meeting with Turkish officials, according to state news agency Iraqi News Agency.

  • The oil minister also stated, "the possibility of increasing exports through this pipeline of Basra oil."
  • Talks to accelerate a resumption of oil exports from Iraq’s Kurdistan region to the Ceyhan port have faced disagreements over terms between oil companies and the oil ministry.
  • The Association of the Petroleum Industry of Kurdistan (APIKUR), which groups eight companies representing 60% of Kurdistan’s production, said Feb. 28 that there had been no formal approach to clarify commercial agreements and guarantees of payment for past and future exports, Reuters reported.
  • Iraq had said last week it would export 185kbpd from Kurdistan's oilfields through the pipeline once the oil shipments resume.
  • Iraq has been facing pressure from the US to restart exports via Turkey to boost global market supply.
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Iraq’s oil minister Hayyan Abdul Ghani today discussed the “the imminent” restart of exports via the Turkish port of Ceyhan in a meeting with Turkish officials, according to state news agency Iraqi News Agency.

  • The oil minister also stated, "the possibility of increasing exports through this pipeline of Basra oil."
  • Talks to accelerate a resumption of oil exports from Iraq’s Kurdistan region to the Ceyhan port have faced disagreements over terms between oil companies and the oil ministry.
  • The Association of the Petroleum Industry of Kurdistan (APIKUR), which groups eight companies representing 60% of Kurdistan’s production, said Feb. 28 that there had been no formal approach to clarify commercial agreements and guarantees of payment for past and future exports, Reuters reported.
  • Iraq had said last week it would export 185kbpd from Kurdistan's oilfields through the pipeline once the oil shipments resume.
  • Iraq has been facing pressure from the US to restart exports via Turkey to boost global market supply.