Tupras to Buy Crude From North Iraq Sold by Baghdad

Source: Reuters 11/20/2014, Location: Middle East

Turkey's sole oil refiner Tupras will begin purchasing crude oil from northern Iraq shipped by pipeline and sold by the Iraqi state's Oil Marketing Company (SOMO), Deputy General Manager Hasan Tan said.

The oil will be transported to the Turkish Mediterranean port town of Ceyhan, Tan told reporters on the sidelines of an energy conference.

The announcement comes a week after the government of Iraq and the semi-autonomous region of Kurdistan reached a deal to settle a long-running dispute over oil-revenue sharing in which Kurds will give Baghdad half of its overall shipments in exchange for civil servants' salaries.


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