ABU DHABI: Turkey’s Minister of Energy and Natural Resources, Alparslan Bayraktar, announced on Monday that the operation of the Iraqi-Turkish oil pipeline, which had been suspended for approximately six months, will resume this week.
Bayraktar made this announcement during his participation in the ADIPEC conference in Abu Dhabi, stating that the pipeline would be capable of transporting approximately half a million barrels of oil to global markets.
The decision to restart oil flows through the pipeline comes after extensive maintenance work conducted by Turkey. The pipeline, which passes through northern Iraq, was halted on March 25 following an order from the International Chamber of Commerce (ICC) directing Ankara to pay Baghdad $1.5 billion in compensation. This payment was demanded due to damages caused by the Kurdistan Regional Government’s (KRG) unauthorized export of oil between 2014 and 2018, bypassing the federal government in Baghdad.
Turkey Conducts Maintenance on Oil Pipeline
During the suspension period, Turkey conducted maintenance work on the pipeline, focusing particularly on areas affected by seismic activity and damage caused by floods. The pipeline, once operational, will significantly contribute to the region’s oil transportation network.
Before the pipeline closure, the Kurdistan Region of Iraq had been exporting approximately 450,000 barrels of crude oil per day through this route. With the resumption of operations, the flow of oil will resume, providing a crucial lifeline for the region’s oil industry and contributing to global energy markets.
