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10/5/2023, 10:08 AM (Source: TeleTrader)
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Turkey restarts Iraqi oil pipeline operations

Turkey's Energy Minister Alparslan Bayraktar (pictured) announced on Thursday during a live broadcast on Bursada Bugun TV channel that the oil pipeline connecting Iraq and Turkey, which facilitates the transmission of 500,000 barrels per day to global markets, restarted operations after a six-month suspension.

"We have done what is required at international standards. What we announced in Abu Dhabi on Monday was this: as of yesterday, the line is ready for operation," the official said.

Ankara previously halted crude oil transport through the pipeline on March 25. This decision was made after Iraq claimed victory against Turkey at the International Chamber of Commerce's Arbitration Court, which ruled in favor of the former, stating that Turkey violated the agreement by allowing the Kurdistan region to export oil independently.

Baha Breaking News (BBN) / RR