Oil offer from Iraq to Turkey | Economic News
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Iraqi Central Government; He announced that they are working to make the Iraq-Turkey Crude Oil Pipeline (ITP), which transports crude oil produced in Kirkuk and other fields of the country to Ceyhan Marine Terminal in Adana, ready to ship oil at the end of April. According to the Iraqi Ministry of Oil, after the repairs are completed, the Kirkuk-Ceyhan Pipeline will have the capacity to send 350 thousand barrels of oil per day to Turkey.
“Repair work is continuing and a large crude oil pumping station with storage facilities has been completed,” Iraqi Deputy Oil Minister Besim Mohammed told Reuters. “The pipeline is expected to start its operations by the end of this month and be ready for oil flow again,” he said. Muhammed said that the work carried out will be the first phase of the operations to bring the pipeline back to full capacity.
The line in question met 0.5 percent of global supply during its operation. Officials of the Northern Oil Company, affiliated with the Iraqi Ministry of Petroleum, said that while crude oil was being pumped at the beginning of last week to control the parts of the Iraq-Turkey Crude Oil Pipeline (ITP) passing through Iraqi territory, where the oil flow stopped due to ISIS attacks in 2014, leaks were detected in some parts. explained. In the statement, it was also stated that work was accelerated to repair the damaged sections extending from Kirkuk through Saladin and Mosul provinces to the Turkish border.
The agreement on the ITP line will expire in 2025. Restarting operations could be considered as part of talks to extend the agreement. It is noteworthy that these developments occurred during a period of intense diplomatic traffic between Ankara and Baghdad. President Recep Tayyip Erdoğan is expected to visit Iraq this month.
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