Ankara and Baghdad have agreed today that oil from Iraqi Kurdistan will be sold to world markets through Turkey, starting with about 2 million barrels in late January, ITAR-TASS reports.
Oil will be exported using the new Mediterranean terminal in Ceyhan. The volume should increase to 6 million barrels by March 2014 and about 12 million by late 2014.
Turkish Minister for Energy and Natural Resources Taner Yildiz said on January 3 that Iraq had started selling oil to Turkey. Turkish Prime Minister Recep Tayyip Erdogan and Prime Minister of the Kurdish Regional Government Nechirvan Idris Barzani signed a deal in November 2013, according to which oil and gas will be sold on the world market through Turkey.
