In a critical move toward economic recovery, Turkey declared on Monday that the oil pipeline to Iraq is prepared to resume the export of oil from the Kurdistan region, following an 8-month suspension that resulted in substantial financial losses for both nations.
Turkey’s Minister of Energy and Natural Resources, Alp Arslan Berqdar, confirmed the readiness of the Iraq-Turkey oil pipeline and anticipated its operational resumption within the current week. This statement was made during his address at the opening session of the “Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2023,” as per reports followed by “Elaph” and conveyed by the Turkish official news agency, Anadolu.
Highlighting Turkey’s longstanding and reliable route for oil and natural gas, Berqdar pointed out that currently, two million barrels of oil are transported daily through Turkey’s straits. Additionally, the Iraq-Turkey oil pipeline, which has been active for approximately 45 years, possesses a daily capacity of 500,000 barrels of oil. He elucidated that upon the activation of the Iraq-Turkey pipeline, it would be feasible to supply 500,000 barrels of Iraqi oil to the global markets daily.
SEO Focused Content:
The *resumption of the Iraq-Turkey oil pipeline* is pivotal, bridging the gap between the Kurdistan region’s oil supplies and global markets after a notable period of stagnation. The move signals an essential reconnection, with Turkey serving as a pivotal and reliable channel for oil and natural gas for decades. The *Kurdistan oil export* holds substantial implications for global oil markets, highlighting the crucial interplay between *Middle Eastern oil politics* and global supply chains.
This development promises to ease the economic strain encountered by both Turkey and Iraq due to the previous halt, also potentially stabilizing part of the *global oil supply chain* amid the prevalent economic challenges worldwide.
Tags: Iraq-Turkey oil pipeline, Kurdistan oil export, global oil markets, Middle Eastern oil politics, oil supply chain, ADIPEC 2023, Alp Arslan Berqdar, economic recovery.
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