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Iraq, Turkey To Start Technical Talks Next Week To Resume Oil Flows

OIL

Iraq and Turkey will be starting technical talks by early next week in order to resume Iraq’s northern crude oil exports via the Turkish port of Ceyhan, two sources told Reuters.

  • Turkey’s Botas last said the pipeline needed further technical checks before a restart following earthquakes earlier this year. Botas will send a technical note on the pipeline’s status in the coming days, an Iraqi official from NOC said.
  • "This does not mean exports will immediately restart as this decision requires high-level political talks," a source told Reuters.
  • Turkey halted Iraq's 450kbpd of exports through a crude oil pipeline from the Kurdistan region to the Turkish port of Ceyhan on 25 March.
  • The halt is estimated to have cost the KRG over $2bn according to Reuters calculations.

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