A year after Iraq-Turkey pipeline halt, no progress to resume flows

A year after the closure of the Iraq-Turkey oil pipeline, the conduit that once handled about 0.5% of global oil supply is still stuck in limbo as legal and financial hurdles impede the resumption of flows, three sources told Reuters. About 450,000 barrels per day of crude once flowed through Iraq's northern oil export route via Turkey, and its closure has led to the loss of roughly $11 billion to $12 billion for Iraq, the Association of the Petroleum Industry of Kurdistan (APIKUR) estimates. Ankara halted flows on March 25, 2023, after an arbitration ruling found it had violated provisions of a 1973 treaty by facilitating oil exports from the semi-autonomous region of Kurdistan without the consent of the Iraqi federal government in Baghdad.