Iraqi Kurdistan's oil exports via Turkey expected soon

According to the Kurdistan Regional Government (KRG), Iraqi Kurdistan is set to start exporting its first independent exports via a new pipeline through Turkey at the end of January, 2014.

The pipeline connects Iraqi Kurdistan's Taq Taq oilfield to Turkey's Mediterranean export hub of Ceyhan. The first 2 million barrels of oil will be sold via a tender. KRG's Ministry of Natural Resources has invited interested bidders.

The monthly export parcels will increase to 4 million barrels and 6 million barrels in February and March, respectively. By December 2014, monthly exports are estimated to reach 10 - 12 million barrels.

Consent

According to the Turkish Energy Minister Taner Yildiz earlier this month, crude has already begun flowing and is being kept in storage. Yildiz said he hoped to reach an agreement this month with Iraq’s central government in Baghdad, which has resisted the prospect of independent Kurdish exports.

“The flow of oil from Iraq has begun. It is being stored. It will not be exported without the consent of the Iraqi Government.”

The Baghdad Government says Kurdish efforts towards oil independence could lead to the break-up of Iraq. Turkey’s courtship of the Iraqi Kurds has also raised concern in Washington, although Turkey has insisted it respects Iraq’s sensitivities over territorial integrity and that increasing oil revenues will help the whole of Iraq.

Edited from various sources by Hannah Priestley-Eaton

Read the article online at: https://www.worldpipelines.com/business-news/09012014/iraqi_kurdistans_oil_exports_via_turkey_pipeline_expected_soon/