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Most of Kurdistan’s large oilfields remain shut in as exports from the semi-autonomous region of Iraq to Turkey and the Turkish port of Ceyhan have yet to resume following the Iraq-Kurdistan deal on restarting oil exports, Reuters reported on Thursday, quoting anonymous sources with knowledge of the matter. Kurdistan and the federal government of Iraq reached an agreement earlier this week to resume exports via an Iraq-Turkey pipeline and the port of Ceyhan on the Mediterranean. Oil flows from Kurdistan were stopped at the end of March, forcing companies to either curtail or suspend production because of limited capacity at storage tanks. ADVERTISEMENT Kurdistan’s crude oil exports – around 400,000 bpd shipped through an Iraqi-Turkey pipeline to Ceyhan and then on tankers to the international markets – were halted in late March by the federal government of Iraq. A few days earlier, the International Chamber of Commerce ruled in favor of Iraq against Turkey in a dispute over crude flows from Kurdistan. Iraq argued that Turkey shouldn’t allow Kurdish oil exports via the Iraq-Turkey pipeline and Ceyhan without approval from the federal government of Iraq. Now that an agreement between Iraq and Kurdistan is in place for the resumption […]
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