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Iraqi Official Rejects Pipeline Restart with Turkey this Week

OIL

The Iraq/Turkey pipeline is unable to restart until commercial and financial issues have been resolved according to a senior Iraqi official based on Bloomberg reports.

  • It follows earlier reports by Turkish Energy Minister Alparslan Bayraktar that the pipeline could begin flows again this week. “Within this week, we will start operating the Iraq Turkey pipeline after resuming operations, it will be able to supply half a million barrels, almost, to global oil markets” Bayraktar had said on the matter.
  • Turkey has said that it’s completed repairs to the link following an earthquake leaving outstanding financial issues as the main outlying problem for flow resumption.

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