• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 35 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 7 days America should go after China but it should be done in a wise way.
  • 3 hours Even Shell Agrees with Climate Change!
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 5 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in

Breaking News:

OPEC Lifts Production in February

Major Oil Companies Make Moves in Megamerger Frenzy

Major Oil Companies Make Moves in Megamerger Frenzy

Several high-profile mergers among oil…

Canada Oil Faces Fresh Pipeline Shortage

Canada Oil Faces Fresh Pipeline Shortage

Canadian oil production could hit…

Charles Kennedy

Charles Kennedy

Charles is a writer for Oilprice.com

More Info

Premium Content

450,000 Bpd Flow Of Kurdish Crude Unlikely To Restart This Weekend

  • KRG and Turkish officials said that the 450,000 bpd of shut-in Kurdish crude exports were unlikely to start flowing already on Saturday.
  • The pipeline was closed down on March 25 by Turkey, following an international arbitration ruling in favor of Iraq against Turkey.
  • Turkey, in the meantime, is preparing for a critical election on May 14, and Turkish officials have previously indicated that they might hold off on restarting the KRG oil pipeline.

While the Iraqi oil minister has said that 450,000 barrels per day of shut-in oil exports from Iraqi Kurdistan would restart exports on Saturday, Kurdish and Turkish officials both said on Friday that it is unlikely the pipeline would be turned back on in that timeframe.

The pipeline was closed down on March 25 by Turkey, following an international arbitration ruling in favor of Iraq against Turkey. The pipeline shut-down removed Kurdish oil from the market that it was exporting unilaterally to Turkey, against the wishes of the Iraqi federal government. 

On Thursday, Iraqi and KRG officials said they had submitted a request on Wednesday for Turkey to restart the pipeline to the Turkish port of Ceyhan, which delivers oil from the Kurdistan Region of Iraq to markets. 

The Iraqi oil minister said the request was for Turkey to restart the pipeline on Saturday, suggesting that the request would be accepted immediately. Kurdish officials had been more circumspect, noting to the media that Ankara had not yet responded to the request at the time. 

While the Iraqi federal government and the Kurdistan Regional Government (KRG) have agreed to a deal to allow the oil to be exported again, Turkey will have the final say as it controls the pipeline at the port of Ceyhan. 

Under the new deal between Baghdad and the KRG, the Iraqi federal oil marketing agency, SOMO, will sell Kurdish oil going forward, with revenues going into a bank account controlled by the Kurds. Kurdish officials maintain that all contracts with oil traders will belong to Erbil, while the oil will be exported through SOMO. 

“It is the same contract and with the same companies, but with the prices of SOMO,” Kurdistan Region Electricity Minister Kamal Mohammed, acting as the Minister of Natural Resources, told Rudaw.

Turkey, in the meantime, is preparing for a critical election on May 14, and Turkish officials have previously indicated that they might hold off on restarting the KRG oil pipeline as they further negotiate the $1.5-billion arbitration settlement with Iraq. 

By Charles Kennedy for Oilprice.com

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News