• 4 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 7 minutes Countries with the most oil and where they're selling it
  • 10 minutes Stack gas analyzers
  • 13 minutes What Would Happen If the World Ran Out of Crude Oil?
  • 12 hours Trudeau Faces a New Foe as Conservatives Retake Power in Alberta
  • 2 hours Ecoside
  • 9 hours Oil at $40
  • 28 mins Japan’s Deflation Mindset Could Be Contagious
  • 15 hours Not Just Nuke: Cheap Solar Panels Power Consumer Appliance Boom In North Korea
  • 4 hours US Military Spend at least $81 Billion Protecting OPEC Persian Gulf Oil Shipping Lanes (16% DoD Budget)
  • 15 hours Haaretz article series _ Saudi Arabia: A Kingdom in Turmoil | Part 1 - Oil Empire
  • 6 hours Mueller Report Brings Into Focus Trump's Attempts to Interfere in the Special Counsel Investigation
  • 11 hours Gas Flaring
  • 11 hours Negative Gas Prices in the Permian
  • 2 days Guaido and the Conoco Award
  • 20 hours The Number Increases: Swiss To Support Belt And Road Push During President's China Trip
  • 1 day Is Canada hosed?
Alt Text

Oil Rallies As OPEC Production Falls

OPEC’s oil production cuts continued…

Alt Text

Can Big Oil Win Back The Younger Generations?

Big oil is struggling to…

Alt Text

Nigeria Boasts Oil Production Cost of $23 Per Barrel

The average production cost for…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Trending Discussions

Kurdish Crude Exports Stop in Turkey

Crude oil has started flowing from Kurdistan to Turkey, but it’s stuck in the purgatory of Turkey’s Ceyhan export hub and will not be exported any further until Turkey reaches a deal with Iraq’s central authorities in Baghdad.

Turkish energy officials said oil started flowing directly from Kurdistan on Thursday, and that the oil would be kept in storage at the country's Ceyhan export hub and that he hoped that Ankara would reach a deal with Baghdad before the end of January.

Baghdad has threatened in the past to take measures against Turkey’s signing of energy deals unilaterally with Kurdistan, bypassing the Iraqi central authorities, who claim that such deals are illegal and represent Kurdish efforts to move towards independence.

Baghdad has also threatened foreign companies who have signed deals with the Kurdistan Regional Government (KRG) without the central authorities’ permission.

Baghdad cannot stop this momentum, however, and the Turks and the Kurds are keen to let the Iraqi central authorities restore some of its lost dignity over the issue by affording it some sense of control, which is now the only way to resolve the crisis without a conflict.

In November, Turkey signed an energy package with Iraqi Kurdistan (KRG) under which the semi-autonomous region plans independent energy exports via Turkey.

Kurdistan could eventually export some 2 million bpd of oil to world markets and at least 10 billion cubic meters per year of gas to Turkey.

Taner Yildiz, Turkish energy minister told media that Iraqi Kurdistan's resources will help diversify its energy supplies and reduce its $60 billion yearly energy tab, which continues to rise.

Expected to carry around 300,000-400,000 barrels per day (bpd), the pipeline is key to both sides.

Turkey, for its part, needs reliable sources of oil to feed its growing economy and also to diversify its imports away from Iran.

Up until now, Kurdistan has been exporting only 50,000 bpd. An oil pipeline does exist between Kirkuk and the Turkish port of Ceyhan, but it is controlled by Baghdad. Without a pipeline of its own, Kurdish exports have gone to Turkey by truck.

Although the initial export will be small relative to Iraq as a whole and only represents about one-sixth of Iraq’s total export potential, more Kurdish exports may follow and production could be ramped up with new discoveries as exploration continues unabated.

The Turkish-KRG deal has significance for major oil companies as well, which will benefit from domestic supply and export through Ceyhan. Kurdistan has deals with ExxonMobil, Chevron and Total among other smaller operators.

By. James Burgess of Oilprice.com




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News