Sitting down with MEES in London on 3 June, Iraq’s oil minister Hayan Abdulghani sounded conciliatory about the dispute that has kept the oil export pipeline to Turkey shut for more than two years. “Talks are ongoing with our brothers in the region and the key element behind the [Federal budget’s] amendment is sustaining production from Kurdistan,” he said.
Kurdish crude oil output collapsed from 450,000 b/d in March 2023 when the Iraq-Turkey Pipeline (ITP) was closed. The pipeline remains shut, with talks on a re-opening having stalled, although production has increased to more than 250,000 b/d as IOCs have started selling volumes to local refiners and traders. (CONTINUED – 1110 WORDS)
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