The latest news on Turkey – Iraq business – air Industry, infrastructure & more – brought to you by Iraq Business News
By John Lee. Turkish Energy Minister Taner Yildiz (pictured) said on Thursday that oil shipments from Iraq via Turkey now amount to 47 million barrels since the beginning of last. He told a news conference that 57 tankers have loaded Iraqi crude at Ceyhan, bringing revenues of $3 billion (3.6 trillion Iraqi dinars). (Source: Reuters)
By John Lee. The director general of the Heavy Engineering Equipment State Company (HEESCO) has held a meeting with a delegation from the Turkish companies ENKA and Gimtas. Mr. Deiaa Gumar said the two companies recognised the capabilities of HEESCO in making equipment for oil refining, production and transportation, and were keen to cooperate with […]
By John Lee. An un-named industry source has told BasNews that oil production in Kirkuk has risen to 400,000 bpd. He said that, to begin with, they were exporting only 150,000 bpd through the Kurdistan Region’s pipeline to Ceyhan Port in Turkey, but later increased this to 300,000 bpd, eventually reaching 400,000 bpd on Monday. […]
By John Lee. Pumping of crude oil from Iraqi Kurdistan to the port of Ceyhan in Turkey has reportedly been halted since Monday. An official at Turkey's state pipeline operator Botas said told Reuters that there had been a theft on the pipeline and that repairs would take around one to two days. (Source: Reuters)
By John Lee. New taxes in force since the beginning of last week mean that Turkish producers exporting into Iraq now need to pay US$290 per ton of exported chicken meat, rather than $35 previously. As a result, the Turkish poultry sector, which has the fourth largest share in the world’s poultry market, risks losing […]
By John Lee. Turkish energy minister Taner Yildiz said today that agreements with Iraqi administrations open the door for Turkish oil exploration in Iraqi Kurdistan: "We have agreements with Baghdad and [the government in] northern Iraq ... In the frame of these agreements, we will explore for oil there ... "There can be an additional […]
By John Lee. The tanker which was blocked for months by a Baghdad legal challenge from unloading its 1 million barrels of Kurdish crude oil in Texas, has reportedly delivered its cargo to Israel. The United Kalavyrta [United Kalavrvta, United Kalvrvta] (pictured) spent several months off the coast of Texas after Baghdad tried to have […]
By John Lee. BasNews reports that Iraqi Prime Minister Haidar al-Abadi secretly tried to block the Turkish government's deal to lend $500 million [583 billion Iraqi dinars] to the Kurdistan Regional Government (KRG). According to sources, Abadi made the request to Turkish President Recep Tayyip Erdoğan in a telephone call. A later request to Turkish […]
By John Lee. Turkey has agreed to provide a $500-million [600 billion Iraqi dinar] loan to the Kurdistan Regional Government (KRG) to help pay the wages of state officials. According to a report from Daily Sabah, the loan will be repaid by either being set off from Turkey's crude oil debts or being repaid directly […]
Turkish President Recep Tayyip Erdogan on Thursday received in Ankara Kurdistan Regional Government Prime Minister Nechirvan Barzani and his delegation. The two sides discussed the latest developments in the region, the war against the Islamic State terrorist organisation, ISIS and the role of Kurdistan Peshmerga Forces. They also discussed the agreement reached last December between […]
By John Lee. Several airlines have suspended flights to Baghdad on Tuesday after bullets hit an airplane as it was landing at Baghdad International Airport. Reuters reports that two passengers were slightly injured when three or four bullets hit the body of a flydubai plane carrying 154 passengers on Monday evening. It was not known […]
By John Lee. Turkey is to send a power-generation ship to Basra to help alleviate its electricity shortages. The announcement was made by Turkish Energy Minister, Taner Yildiz, on Sunday during the 17th Turkey-Iraq Joint Economic Commission meeting in Baghdad. According to Worldbulletin, the ship will add 410 megawatts to the existing capacity of 250 MW […]
