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Iraqi-Kurdistan Oil Send Outs Resuming - Ceyhan Terminal Status Unclear

OIL

The Garmian oil block in Iraqi-Kurdistan is sending out oil again, according to a Rudaw report.

  • Oil production in the semi-autonomous region has been disrupted since an international business tribunal said Kurdish authorities shouldn’t export oil via a Turkish pipeline without Baghdad’s approval.
  • Kurdistan Region Prime Minister Masrour Barzani and Iraqi Prime Minister Mohammed Shia’ al-Sudani signed an agreement on Tuesday to resume the Region’s oil exports to Turkey more than ten days after it was halted following a ruling by a Paris-based arbitration court.
  • Turkey hasn’t indicated when oil flows through the pipeline will resume.
  • Iraqi oil exports via Turkey’s Ceyhan terminal in limbo amid Ankara silence: Platts source
  • Prior to the Opec+ announcement, the delay in flows was a key driver of oil prices last week – still providing support until the Ceyan terminal begins loading.
  • There are 3 tankers holding outside Ceyhan to resume exporting KRG crude according to Argus reports.
Energy BulletsCommodities
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