Turkish Energy Minister Alparslan Bayraktar stated today, Thursday, that "the crude oil pipeline from Iraq through Turkey, which has been halted for about six months, is ready to operate starting Wednesday, and Ankara is preparing to resume shipments." In remarks to "NTV," Bayraktar said, "There are no obstacles now to the shipment of Iraqi oil to global markets." Turkey halted the flows through the oil export route from northern Iraq following a ruling by the International Chamber of Commerce ordering Ankara to pay compensation to Baghdad for unauthorized exports between 2014 and 2018. The energy minister also mentioned that he intends to visit Israel in November to discuss the shipment of Israeli natural gas to Europe via Turkey and for local consumption as well.
Ankara later began maintenance work on the pipeline, which contributes about half a percent to global crude oil supplies. The two countries agreed to wait until the pipeline maintenance evaluation is completed to resume flows, while continuing their legal battle over arbitration decisions.
