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Turkey’s Energy Minister to Visit Iraq Next Week Amid ITP Shutdown

OIL

Turkey’s Energy Minister Alparslan Bayraktar will visit Iraq on Wednesday to attend a Joint Economic Commission meeting between the two countries, two sources told Bloomberg.

  • The meetings are expected to include talks on the resumption of oil flows from Iraq’s northern fields via the Turkish port of Ceyhan, the sources said.
  • Last week, Iraqi oil officials have visited Kurdistan to reach an agreement on the resumption of oil flows via the pipeline to Turkey. The Iraqi delegation met with the KRG Prime Minister Masrour Barzani prior to a technical meeting with the Kurdish oil authorities.
  • The current dispute included overdue payments to oil companies, according to DNO, as well as an outstanding agreement on oil production costs with foreign oil companies in the region.
  • Iraq’s oil minister Hayyan Abdul Ghansi said in an interview to Rudaw channel on 14 November that talks are ongoing, and he hoped to reach an agreement with the KRG and foreign oil companies to resume exports within the coming days. However, both the Turkish and Iraqi government have made statements of similar nature since the shutdown of the pipeline on 25 March and an imminent restart seems unlikely.
Energy BulletsCommodities
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