Hopes rise for sales of disputed Iraqi-Kurdish oil exports – beyondbrics - Blogs - FT.com:
"Hopes for an early release of disputed oil pumped from Kurdistan – but held in Turkey – are rising, a person familiar with the issue said. A resolution to a political impasse between the semi-autonomous Kurdistan region and Iraq could free up for sale millions of barrels of oil that have been stockpiled on the Eastern Mediterranean coast since the end of last year.
Oil has been flowing from Kurdistan – sometimes described as ‘the last great oil frontier’ with a potential 50bn barrels in reserves – through a newly-constructed pipeline to the Turkish export terminal of Ceyhan for more than five months.
But a disagreement between Baghdad and Erbil, the Kurdish capital, over who has the legal right to control hydrocarbon exports led to a block on sales of the oil by the Iraqi federal government. Instead, some 2.5m barrels have built up in tanks at Ceyhan as the Iraqi, Kurdish and Turkish authorities struggled to reach accord on a system for sharing payments."
'via Blog this'
No comments:
Post a Comment