Iraq resumes Kurdish oil exports to Turkiye after 2-1/2-year halt

The Star

Crude oil began flowing again on Saturday (Sept 27) through a pipeline from Iraq’s semi-autonomous Kurdistan region to Turkiye, marking the first resumption in two and a half years.  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00Crude oil began flowing again on Saturday, through a pipeline from Iraq's semi-autonomous

00:08Kurdistan region to Turkey Yeh, the first such shipment in two and a half years.

00:13The flow resumed at 6 a.m., local time after an interim agreement ended a long-running

00:18dispute between Iraq's federal government, the Kurdistan Regional Government KRG, and

00:24foreign oil producers.

00:26After the deal, 180,000 to 190,000 barrels per day of crude will be exported to Turkey Yeh's

00:33Chehan port, with volumes expected to rise to 230,000 BPD.

00:39The United States had pushed for the restart, which could significantly boost global supply

00:44as OPEC Plus ramps up output to strengthen its market share.

00:48Iraq's OPEC delegate Mohammad al-Najjar said the resumed flows via the Kirkuk-Chehan pipeline,

00:54along with expanded operations at Basra Port, would help Iraq raise total exports.

01:00Oil Ministry Under-Secretary Bassem Mohammad told Reuters that exports could reach 3.6 million

01:06barrels per day in the coming days, while remaining within Iraq's OPEC quota of 4.2 million barrels

01:12per day.

01:13Exports through the Kirkuk-Chehan pipeline had been halted since March 2023, when the International

01:20Chamber of Commerce ordered Turkey Yeh to pay Iraq $1.5 billion in damages for unauthorized

01:26exports by the KRG.

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