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.
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The Pentagon recommitted itself in a statement on Tuesday to scaling back its military mission in Iraq, a process that a U.S. official said will see Baghdad command efforts to combat remnants of Islamic State inside its own country.
Former UK Prime Minister Tony Blair has been named by U.S. President Donald Trump as part of a proposed interim authority for the Gaza Strip, unveiled Monday within a new peace initiative.
Iran marked the 45th anniversary since the Iran-Iraq war began with parades and memorials with the country's revolutionary guard issuing a warning to U.S and Israel against further aggression.
Iraq has increased its oil exports following the gradual easing of voluntary production cuts under the OPEC+ agreement, according to the country’s state oil marketer, SOMO, on Sunday. Earlier this month, eight OPEC+ members agreed to raise production by 137,000 barrels per day from October.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
At least 17 people died when a passenger bus overturned in northeastern Brazil, authorities confirmed on Saturday.
Egypt has agreed with Iran, the United States, and the International Atomic Energy Agency (IAEA) to maintain ongoing consultations aimed at finding a breakthrough in the Iranian nuclear file, the Egyptian Foreign Ministry announced on Saturday.
At least five militants, including two commanders, were killed in northwestern Pakistan after security forces foiled a planned terrorist attack, officials said on Saturday.
China Eastern Airlines will restart direct flights connecting Shanghai and Delhi on 9 October, marking the first such services in five years.
Syrian Foreign Minister Assad al-Shaibani announced on Saturday that he will make his first official visit to China in early November, following an invitation from Beijing.
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