Kurdistan Region of Iraq begins crude exports via Turkey

barrels-A is for Angie flickrAn analyst said that Turkey has opened the way for Kurdistan Region of Iraq to export their oil to world markets in exchange for better access to the region’s oil for its domestic consumption. (Image source: A is for Angie/Flickr)Kurdistan Region of Iraq has started exporting oil to international markets via Turkey, according to official sources

Taner Yildiz, energy minister of Turkey, said that the shipments of the region’s oil from Turkey’s Mediterranean port of Ceyhan began last week.

However, the exports, not approved by Baghdad, could alleviate tension between the regional and federal government.

Kurdistan Regional Government said, “A tanker loaded with over one million barrels of crude oil departed from Ceyhan towards Europe.”

“This is the first of many such sales of oil exported through the newly constructed pipeline in the Kurdistan Region of Iraq,” it added.

Erbil added that the revenue from the sales would be deposited in Turkey’s state-owned Halkbank.

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