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Turkey Seeks Iraq Revenue-Sharing Deal to Restart Oil Exports

OIL

Turkey is looking to broker a deal with the central Iraqi government and the Kurdistan Regional Government (KRG) to restart exports via the Ceyhan pipeline, according to Bloomberg.

  • A compromise over competing demands from Iraq and the Kurdish administration over revenue-sharing from oil exports is being sought to break the deadlock.
  • Baghdad has asked Turkey to collect the money from oil exports and transfer it to Iraq after deducting 12.6% of the share allocated to the KRG, said the officials, speaking on condition of anonymity.
  • The KRG, however, has told Turkey that it wants the entire revenue from exports via its territory, arguing that it has been unable to collect funds from separate Iraqi oil exports.
  • The pipeline has an export capacity of around 450k b/d.
Energy BulletsCommodities
Energy BulletsCommodities

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