One of the three sources and an independent oil industry source said the request, which was sent to Turkey’s state energy company “Botas”, came after traders who buy crude from the Kurdistan region have signed contracts with the Iraqi government’s oil marketing company. “SOMO” Tuesday and Wednesday after weeks of discussions.
Earlier in the day, the Norwegian oil company “DNO” canceled its production forecast in the region after the stoppage of exports since March forced the company to halt production.
The Norwegian company said in a statement: “Until exports resume and payments for previous and current oil sales are regular, DNO cannot provide any forecast of Kurdistan’s production for the full year.” .
In turn, “Genel Energy” canceled its production forecast in 2023, saying it was no longer valid for advertising in light of the closure of the pipeline between Iraq and Turkey since March.
The company, which focuses its activities on the Kurdistan region of Iraq, said it would release new forecasts once the pipeline reopens and investment plans are confirmed.
Turkey had stopped the flow of oil through the Kurdistan-Ceyhan pipeline, after a March 23 ruling by the International Chamber of Commerce forced Turkey to pay $1.5 billion in compensation to Baghdad for allowing Ankara to pump Kurdistan’s exports from 2014 to 2018.
In response, Turkey halted the flow of 450,000 barrels per day of oil exports.
In April, the federal government of Iraq and the government of the country’s semi-autonomous northern region reached an agreement in principle to resume oil exports from the north, but exports have remained suspended so far.
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