Crude oil flowed on Saturday (27 September) through a pipeline from the semi-autonomous Kurdistan region in northern Iraq to Türkiye for the first time in two-and-a-half years, after an interim deal broke the deadlock, Iraq's oil ministry said.
"Operations started at a rapid pace and with complete smoothness without recording any significant technical problems," the ministry said.
The agreement between Iraq's federal government, the Kurdistan regional government (KRG) and foreign oil producers will see 180,000 to 190,000 barrels per day of oil flow to Türkiye's Ceyhan, Iraq's oil minister told Rudaw on Friday.
The U.S. had pushed for a restart, which is expected to eventually bring up to 230,000 barrels per day (bpd) of crude back to international markets at a time when OPEC+ is boosting output to gain market share.
The preliminary plan, agreed on Wednesday, calls for the KRG to commit to delivering at least 230,000 bpd to Iraq's state oil marketer SOMO, while keeping an additional 50,000 bpd for local use, according to Iraqi officials with knowledge of the agreement.
An independent trader will handle sales from the Turkish port of Ceyhan using SOMO's official prices.
For each barrel sold, $16 is to be transferred to an escrow account and distributed proportionally to producers, with the rest of the revenue going to SOMO, the officials said.
Elon Musk is seeking up to $134 billion from OpenAI and Microsoft, arguing that the companies profited unfairly from his early support of the artifici...
The European Union has called an emergency meeting of its ambassadors after U.S. President Donald Trump vowed to impose escalating tariffs on European...
The European Union and South American bloc Mercosur have signed a long-awaited free trade agreement in Paraguay, opening the way for what would become...
Syrian government forces have moved into the northern towns of Deir Hafer and Maskana as Kurdish-led Syrian Democratic Forces (SDF) withdraw, amid ren...
Israel said on Saturday that the Trump administration’s announcement on the composition of a new Gaza executive board was made without coordination ...
Uzbekistan is positioning itself to export goods worth up to $650 million to Iraq and Syria in 2026, while strengthening transport corridors through the Caucasus region, including enhanced ties with Azerbaijan and wider transit opportunities.
Iran has ruled out a proposal by Iraqi Prime Minister Mohammed Shia' al-Sudani to mediate between Iran and U.S. and host bilateral nuclear talks in Baghdad.
Iraq’s newly elected parliament has chosen Haybat al-Halbousi as its speaker, marking the first formal step toward forming a new government after months of uncertainty.
Pakistani President Asif Ali Zardari arrived in Baghdad on Saturday evening for an official visit, the Pakistani Foreign Ministry confirmed.
A railway power outage in Tokyo disrupted the morning commute for roughly 673,000 passengers on Friday (16 January) as two main lines with some of the world's busiest stations were halted after reports of a fire.
The Turkish Defence Ministry has voiced its support for recent military operations by Syrian government forces against the Kurdish-led Syrian Democratic Forces (SDF), which enjoy the support of the United States.
Tens of thousands of users were left unable to access Elon Musk’s social media platform X on Friday, with outages reported across multiple countries including the United States, the United Kingdom, Canada and Australia.
Armenia has reaffirmed that it has no intention of taking any actions directed against Iran, with senior officials stressing that relations with Tehran remain friendly and constructive.
Russian President Vladimir Putin held separate calls with Israeli Prime Minister Benjamin Netanyahu and Iranian President Masoud Pezeshkian on 16 January, offering Russia’s help to mediate tensions and promote dialogue in the Middle East.
Italian Prime Minister Giorgia Meloni said on Saturday (17 January) that concerns over security in Greenland should be addressed within the framework of NATO, describing a ground military intervention as highly unlikely.
The European Union has called an emergency meeting of its ambassadors after U.S. President Donald Trump vowed to impose escalating tariffs on European allies unless the United States is allowed to buy Greenland.
The European Union and South American bloc Mercosur have signed a long-awaited free trade agreement in Paraguay, opening the way for what would become the EU’s largest-ever trade deal.
Israel said on Saturday that the Trump administration’s announcement on the composition of a new Gaza executive board was made without coordination and contradicts Israeli government policy.
Trump administration officials held months-long discussions with Venezuela’s hardline interior minister Diosdado Cabello before the U.S. operation that led to the seizure of President Nicolás Maduro, according to multiple people familiar with the matter.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment