Turkey mentioned it’s nearing the completion of earthquake-damage assessments on a key pipeline that allowed the nation to obtain crude oil from Iraq and export it earlier than flows have been halted.
“It’s roughly prepared and we’ll begin the operation quickly,” Vitality Minister Alparslan Bayraktar mentioned in a press convention on Thursday.
His feedback add little visibility as to when exports through Turkey’s Ceyhan port on the Mediterranean Coast will restart. Turkey halted flows by way of the pipeline in March, after an arbitration courtroom ordered it to pay about $1.5 billion in damages to Iraq for transporting Kurdish oil with out Baghdad’s approval.
The injury evaluation at present underway is important for Turkey to defend itself legally if Baghdad, sooner or later, seeks compensation for extra reparations, Bayraktar mentioned.
Turkey has maintained that it’s as much as Iraq’s central authorities and its semi-autonomous Kurdish administration to succeed in a compromise over learn how to break up revenues from oil exports. Final month, Turkish officers advised Bloomberg they have been attempting to dealer such a deal and that that they had no intention of paying the positive Iraq is searching for to gather.