Genel Energy Starts Direct Oil Export to Turkey

By John Lee.

Genel Energy has started shipping crude oil directly into Turkey from its Taq Taq oil field (pictured) in Iraqi Kurdistan, two weeks after exports from the region were halted, reports Bloomberg.

According to the report, the KRG won’t resume exports through the central government pipeline network until the federal authorities pay the 350 billion dinars ($300 million) dues owed to international companies working in the Kurdish area.

Gulf Keystone Petroleum (GKP), which also has production in the semi-autonomous area, isn’t exporting crude and sells only in the domestic market, as does Norway's DNO International.

Kurdish authorities plan to complete oil and gas pipelines running directly to Turkey within the next two years.

(Source: Bloomberg)

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