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Turkey Ready To Ship Iraqi Oil

Iraq's Najaf oil refinery

Iraq's Najaf oil refinery

Turkish Energy Minister Taner Yildiz says Turkey will help ship Iraqi oil to world markets.

But Yildiz also said Turkish authorities are aware of the friction between Iraq's Kurdish region and the government in Baghdad and will not import any energy resources from the autonomous Iraqi Kurdistan without the Iraqi central government's approval.

Yildiz's comments on November 1 came after authorities in Iraqi Kurdistan said they would build a second pipeline to bring oil to Turkey. Yildiz said the existing pipeline from Iraq to Turkey -- the Kerkuk-Yumurtalyk pipeline -- is only operating at one-third of its capacity, causing economic losses to Iraq.

Iraq's government has warned foreign companies about bypassing Baghdad and signing contracts with Kurdish authorities. The Iraqi government has threatened that any companies that engage in such a practice would be banned from doing business in Iraq.

Based on reporting by and Reuters