International Oil Companies Caught in Kurdish Smuggling Web

  • 📰 OilandEnergy
  • ⏱ Reading Time:
  • 24 sec. here
  • 11 min. at publisher
  • 📊 Quality Score:
  • News: 44%
  • Publisher: 68%

Kurdistan News

Oil Smuggling,Iraq,Iran

A Reuters investigation reveals a booming black market for Kurdish oil, with thousands of tanker trucks smuggling crude to Iran and Turkey despite a pipeline closure.

Kurdistan hasn’t been able to export its oil via a pipeline for more than a year now, but crude continues to flow out of the semi-autonomous Iraqi region—on tank trucks to the border with Iran. More than 1,000 such tank trucks are estimated to be transporting at least 200,000 barrels per day bpd of Kurdish oil to Iran and Turkey, a Reuters investigation has found.

The ICC ruled in favor of Iraq, which had argued that Turkey should not allow Kurdish oil exports via the Iraq-Turkey pipeline and the Turkish port of Ceyhan without approval from the federal government of Iraq. Now, only Iraq’s state oil marketing firm SOMO has the right to sell crude oil produced anywhere in Iraq. And it looks like the re-opening of the pipeline to Ceyhan on the Turkish Mediterranean coast is not a priority for politicians in Baghdad.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 34. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Russia Eyes Expansion of Investment in Iranian Oil and Gas SectorRussian oil companies are to undertake a slew of new investments to development Iran's huge oil and gas reserves
Source: OilandEnergy - 🏆 34. / 68 Read more »