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Turkey resumes buying oil from Iraqi Kurdistan | ||
| 17/12/2014 | ||
The oil will be transported via the port of Ceyhan and sold by Iraq’s national oil company, Yıldız added, noting that a total of 2.6 million barrels have been extracted in the Kurdish region so far. The sale is one of the first made under a deal between the government of Iraq and the KRG, which ends a dispute over oil-revenue sharing. The Kurds are giving Baghdad half of the barrels extracted from the region, in exchange for $500 million in funds to pay the salaries of regional civil servants. Yıldız was speaking at a meeting with Iraqi Electricity Minister Qassim al-Fahdawi in Istanbul, at which an agreement for the construction of a 3,000 megawatt combine was signed. Private firm Mass Global and Iraqi banks will finance a $3 billion, 3,000 megawatt (MW) gas-fired power plant being built by Turkey’s Enka in the Iraqi city of Bismayah, the companies said. Al-Fahdawi said the new Iraqi government would work to collaborate with Turkey, praising the Turkish experience with Turkmenistan in importing electricity to Turkey. Al-Fahdawi mentioned, “I just want to urge the Turkish government to see us in the same way as Turkmenistan.” | ||
Last Update:: 17/12/2014 | ||
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