Baghdad and KRG yet to reach deal to resume oil exports -Iraqi oil minister

Iraq’s federal government and the Kurdistan Regional Government (KRG) have not reached an agreement needed to resume oil exports from the semi-autonomous Kurdistan region in northern Iraq to the Turkish port of Ceyhan, Iraqi oil minister Hayan Abdel-Ghani said on Wednesday.

Turkey halted Iraq’s 450,000 barrels per day (bpd) of northern exports through the Iraq-Turkey pipeline on March 25 after an arbitration ruling by the International Chamber of Commerce (ICC).

The ICC ordered Turkey to pay Baghdad damages of $1.5 billion for unauthorised exports by the KRG between 2014 and 2018. The Iraq-Turkey pipeline had been exporting about 75,000 bpd of federal crude, with the remainder from the KRG.

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