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The Ceyhan pipeline in Turkey will resume exports of Iraqi goods on Wednesday or Friday

Iraq's Oil Minister, Hayan Abdel Ghani, announced on Wednesday that after a 2-year hiatus oil exports will resume through Turkey's Ceyhan Pipeline later on Thursday or Wednesday, according to Iraqi State News Agency INA.

Abdel-Ghani stated that an agreement was concluded with the Kurdistan Regional Government regarding the resumed crude oil exports through Turkey's Ceyhan Pipeline.

He told INA that "80,000 barrels of oil per day would be exported through SOMO, the Iraqi state-owned oil marketing company," referring to Turkey's Ceyhan Pipeline.

Kirkuk-Ceyhan Pipeline has been off-line since 2023 after arbitration court ruled Turkey must pay $1.5 billion damages for unauthorised imports between 2014-2018. The ruling is being appealed by Turkey.

The pipeline transported around 450,000 barrels of oil per day from Iraq, including 370,000 barrels of KRG crude.

Baghdad claimed that SOMO is the only entity authorized to manage crude oil exports through the Turkish port.

(source: Reuters)