A year after Iraq-Turkiye pipeline halt, no progress to resume flows

A worker walks down the stairs of an oil tank at Turkey's Mediterranean port of Ceyhan, which is run by state-owned Petroleum Pipeline Corporation (BOTAS), some 70 km (43.5 miles) from Adana February 19, 2014. REUTERS/Umit Bektas

LONDON: A year after the closure of the Iraq-Turkiye oil pipeline, the conduit that once handled about 0.5% of global oil supply is still stuck in limbo as legal and financial hurdles impede the resumption of flows, sources say.

About 450,000 barrels per day of crude once flowed through Iraq’s northern oil export route via Turkiye, and its closure has led to the loss of roughly US$11bil to US$12bil for Iraq, the Association of the Petroleum Industry of Kurdistan (Apikur) estimates.