Oil storage tanks at the Turkish port of Ceyhan
Iraq’s tangled Ceyhan oil web
KRG, Iraq’s central government and Turkey are all working to get exports flowing from the key port, but complications remain
The central government in Baghdad and the Kurdish Regional Government (KRG) in Erbil have reached an agreement to restart oil exports via the Turkish port of Ceyhan. Under the agreement, the KRG will immediately start supplying 230,000b/d to state oil marketer SOMO. The KRG’s production is estimated at 280,000b/d, of which 50,000b/d is assigned for local consumption within the region. The KRG was producing about 435,000b/d before the pipeline closure in March 2023. Turkey halted the link that carried about 0.5m b/d of oil following an arbitration court’s order to pay Iraq $1.5b. The court ordered the payment for oil transfers made between 2014 and 2018 without Baghdad’s consent. Turkey blame
Also in this section
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
