Tuesday, 02 January 2024 12:17 GMT

Iraq Restarts Kirkuk Oil Exports Through Türkiye


(MENAFN) Iraq’s North Oil Company announced on Wednesday that it has resumed crude oil shipments from the Kirkuk fields through Türkiye’s Ceyhan port, ending nearly three years of halted exports.

According to reports, operations restarted via the Saralo pumping station, initially allowing for an export capacity of 250,000 barrels per day. The move follows an agreement between Iraq’s federal government and the Kurdistan Regional Government (KRG) to reactivate a critical export route and bolster the country’s overall oil distribution system.

The KRG confirmed on Tuesday that it had reached an understanding with Baghdad to resume shipments to the Ceyhan port in Türkiye.

This development comes as the Strait of Hormuz remains a major point of global energy concern. The waterway has been affected since Iran’s Islamic Revolutionary Guard Corps declared it closed to most vessels in response to US-Israeli operations that have reportedly killed around 1,300 people in Iran since February 28.

Prior to the escalation, roughly 20 million barrels of oil passed through the strait daily. Its partial closure has contributed to rising oil prices worldwide. In response to these disruptions, Iraq’s Oil Ministry indicated on Sunday that it is ready to restart northern pipeline exports toward Ceyhan Port as southern routes linked to the Strait of Hormuz remain affected.

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