KRG's oil transfer via Turkey under spotlight

Turkish ministry of energy is considering its decision based on input from government, en. min. undersecretary says

KRG's oil transfer via Turkey under spotlight

World Bulletin / News Desk

The government is considering the decision they will take on whether to continue the Kurdish Regional Government's (KRG) oil transfer through Turkey, Turkey’s Energy Ministry Undersecretary Fatih Donmez said on Tuesday.

Speaking at the eighth Turkey Energy Summit, Donmez said that although no decision has yet been taken on the KRG's oil exports following the illegal independence referendum on Sept. 25, the issue is currently on the agenda and is being examined.  

"However, we will decide on our stance based on instructions from the [Turkish] government. As of today, there is no decision yet, although this does not mean that there will not be one," he asserted.

The regional government, led by President Masoud Barzani, has enjoyed close ties with Ankara and had used a pipeline stretching from northern Iraq to the Turkish Mediterranean port of Ceyhan to export oil, a mainstay of the KRG economy.

However, the independence referendum -- held in KRG-controlled areas across northern Iraq, including those disputed with the central government in Baghdad -- has threatened this relationship.

The KRG's net income from exports through the Ceyhan port amounted to almost $416 million in October 2016, according to the KRG's Ministry of Natural Resources Monthly Export and Production Report in 2016 - the ministry's latest monthly oil report released.

The report showed that the KRG exported 19 million barrels of crude oil in total and an average of nearly 614 thousand barrels of oil per day in the month of October last year through the port of Ceyhan in Turkey.

 

Last Mod: 10 Ekim 2017, 15:47
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