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Turkey Wants To Negotiate Iraq Payment Before Oil Exports Resume

OIL

Iraq’s northern oil exports to Turkey have not yet resumed because Turkey wants to negotiate with Iraq a settlement that it’s been ordered to pay, according to two Turkish officials familiar with the situation.

  • Turkey halted flows of around 450kbpd via a pipeline from Iraq’s Kirkuk fields to Turkey’s Ceyhan port on 25 March.
  • Iraq’s federal government and the KRG signed a temporary agreement on Tuesday to restart northern oil exports through Turkey. It hoped that exports would restart shortly after.
  • The Turkish officials refused to elaborate on whether the country is seeking to reduce the compensation or determine a mechanism for how to make the payments. The Kurdistan Regional Government has said it would be able to restart supplies this week, but any negotiations could hold up the process.
Energy BulletsCommodities
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