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Turkish, Iraqi Ministers To Meet To Adress Oil Flows

OIL

The Turkish Foreign Minister Hakan Fidan will visit Baghdad and Erbil on 23 and 24 august, according to four Iraqi officials, while Iraqi Oil Minister Hayyan Abdulghani is scheduled to travel to Ankara "early next week," according to an Oil Ministry official.

  • The ministerial-level meetings are likely to address the stopped oil flows between Iraq’s Kurdistan region and the Turkish port of Ceyhan since end-March.
  • In late-July, the KRG and Iraq have started taking initial steps towards implementing an aspect of the new 2023 budget law, in a sign of cooperation that could potentially lead to more stable financial flows for the KRG and its oil contractors. The KRG has started handing over 50-90kbpd of crude oi to the federal oil ministry.
  • Reports last month stated the Turkish President Erdogan is scheduled to travel to Iraq this month. However, no official date has been released yet.
  • Norwegian oil firm DNO partly restarted production at its Tawke field in the Kurdistan region in July, after production at its Tawke and Peshkabir fields was halted shortly after exports via Ceyhan were stopped, the firm said.

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