10/2, 10:45 AM (Source: TeleTrader)
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Turkey-Iraq oil pipeline to resume ops this week

Turkish Energy and Natural Resources Minister Alparslan Bayraktar (pictured center) announced on Monday that the pipeline that transports oil from Kurdistan in Iraq through his country will resume operations this week.

Speaking at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), Bayraktar said that, once restarted, the pipeline will supply the world with half a million barrels of oil per day.

Turkey previously halted operations on its part after an arbitration case ruled that the Eurasian country violated the agreement with its neighbor by allowing Kurdistan's government to send oil from the region to the Turkish port of Ceyhan without Iraq's consent.

Baha Breaking News (BBN) / JR