Arab Today, arab today turkish minister exports of northern iraqi oil to begin
Last Updated : GMT 21:17:01
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Turkish minister: Exports of northern Iraqi oil to begin

Arab Today, arab today

Arab Today, arab today Turkish minister: Exports of northern Iraqi oil to begin

Ankara - Anadolu

"Exports of northern Iraqi oil to begin under full agreement between Irbil and Baghdad," said Turkish Energy and Natural Resources Minister Taner Yildiz. Speaking at a press conference at Turkish Petroleum Corporation (TPAO) on Thursday for evaluating 2013's energy sector developments, Yildiz said oil flow from northern Iraq has reached up to Ceyhan (town of southern Adana province) and stored into tanks. "However," added Yildiz, "We haven't started exporting it to Europe without the consent of Baghdad administration. Yildiz also announced that the amount of oil flow was planned to be 300,000 barrels daily in the initial stage, and will gradually be increased to 400,000 barrels. - "Gas cut from Iran, temporary situation" Yildiz also said, "Currently Iran exports 8 million cubic meters less natural gas than agreed amount," and added that the cut might be due to Iran's internal demand considering the heavy winter conditions, as well as technical problems. "I know that my collegues in Iran work altruistically. We believe that this is a temporary situation." - "Positive messages from Greek Cypriot and Greek side" With regard to gas exploration activities in Eastern Mediterranean Sea, Yildiz said he was hopeful about 2014 to witness positive developments. "We do not prefer to conduct exploration activities in the disputed sea zone between Turkish Cypriot and Greek Cypriot sides on the Cyprus island. However this requires mutual understanding and kindness," said Yildiz. Yildiz stated that Turkey's Barbaros Hayrettin Pasha seismic vessel had been going on its offshore oil and gas exploration in the eastern Mediterranean, albeit beyond the disputed zone. "We believe in establishing a structure that will belong to the whole island," said Yildiz and continued: "We repeat that oil extracted in any part of Iraq, belongs to whole country. Same must be valid for Cyprus. We need to reach a constructive point in this regard within 2014. We receive recent positive messages from Greek Cypriot and Greek side favorably." Yildiz also declared that Turkey's Petroleum Pipeline Cooperation (BOTAS) will conduct an international project within 2014, details of which will be announced in the coming period. - "Turkey's oil exploration activities will increase" With regard to electricity sector, Yildiz said that electricity production raised by 7,000 megawatts, breaking a record, with launching of 137 new power stations, added to 767 already existing ones. "We became the country using the cheapest natural gas in Europe," said Yildiz, adding Turkey ranked the third in using the cheapest electric.   With regard to Turkey's activities on renewable energy resources, "We preempted 12 billion dollars of natural gas import through launching renewable energy power plants within last decade," said Yildiz. Yildiz mentioned that 50 companies operated in oil and gas exploration in Turkey, and reached 2.4 millon tons of oil production per year in 2013, which corresponded 8 percent of Turkey's consumption. Exploration activities will increase in 2014, added Yildiz. - "Boron production surged to 1.8 million tons" Yildiz emphasized that Turkey's boron minerals sector (Turkey keeps 73 percent of world's boron reserves) progressed in terms of production, export and sale in the last 11 years. While its production was 436,000 tons in 2002, it raised to 1.8 million tons in the first 11 months of 2013. Upon a question about anti-graft operation which rattled the country on December 17, Yildiz said, "We exported 3.3 billion dollars of gold via Halkbank in 2013. All of them are official transactions. The US did not share any concern with us in this regard. UN resolutions are binding for Turkey."

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