Back on track: Turkey allows oil flow from Iraq again
Turkey turns Iraq taps back on
Iraq pumped oil through its northern pipeline at a rate of around 480,000 barrels per day today after Turkey allowed exports to restart yesterday according to sources.
Turkey halted the flow for a day from around midday on Monday to force Iraq to pay an outstanding debt of around $100 million. The pipeline typically accounts for about a fifth of Iraq's oil exports of nearly 2 million bpd, wrote Reuters.
Iraq paid half the debt yesterday, after which Turkish state pipeline operator Botas restarted loadings from the pipeline at the Mediterranean terminal of Ceyhan.
The flow through the line was at 20,000 barrels per hour today the source told Reuters. The rate was up from the 18,000 barrels per hour flow before the interruption.
A vessel sailed earlier today from Ceyhan with around 600,000 barrels of Iraqi crude for delivery to Spanish refiner Repsol , he added.
Ceyhan receives oil from the Iraq's northern Kirkuk oilfields. Iraqi oil in storage tanks at the terminal stood at around 1 million barrels today, and the next ship was due to berth for loading on tomorrow.
Tighter security has allowed Baghdad to boost exports through the pipeline since last summer. The route was plagued by sabotage and technical problems for four years following the US-led invasion of March 2003.