Iraq-Turkey Oil Pipeline Nearly Ready Turkey To Appeal To Icc

(MENAFN- Iraq Business News) By John Lee.

The Kirkuk-Ceyhan oil pipeline, which is also the main route for oil exports from Iraqi Kurdistan, will reportedly soon be ready to resume operations.

Varimedia sources quote the Turkish energy Minister, Alparslan Bayraktar (pictured), as saying that earthquake-damage assessments are nearing completion.

Shares in Gulf Keystone petroleum (GKP) closed the day on Friday up more than 15 percent, while Genel Energy rose more than four percent.

Meanwhile, there are reports that Turkey will file an application with the International Chamber of Commerce (ICC) in an attempt to overturn the arbitration ruling under which Turkey must pay $1.4 billion in damages to Iraq relating to crude oil exports from the Kurdistan region.

(Sources: Reuters, Bloomberg, Middle East Eye)


Iraq Business News

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