Oil exports to Turkey resume

12 Mar 2016   Iraq, Turkey

Turkey’s security authorities allow the Iraq-Turkey Pipeline to reopen after 23 days. Oil tanks at Turkey’s Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS), where oil exports from the Iraqi central government and, separately, from the KRG, are sent. (UMIT BEKTAS/Reuters) Oil is flowing again through the Iraq-Turkey Pipeline (ITP), more than three weeks after Turkey shut it down due to security problems. The restart, confirmed by two oil industry officials who monitor the line, is a welcome relief for both the Kurdistan Regional Government (KRG), which is already stretched thin by a financial crisis, and Kirkuk province, which recently began receiving petrodollar payments from the KRG that are proportional to the amount of oil exported from Kirkuk fields. T… This content is for registered users. Please login to continue. If you are not a registered user, you may purchase a subscription or sign […]

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