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Turkey, Iraqi Kurds Sign Oil Deal

The Tawke oil refinery in Iraqi Kurdistan (file photo)
Turkey and Iraqi Kurdistan have reportedly concluded a deal that could see significant volumes of oil and natural gas reach markets in Europe.

An exclusive Reuters report on November 6 cited sources involved in the talks as saying Ankara and the Kurdistan Regional Government (KRG) in northern Iraq had signed a deal to construct pipelines that would bring oil and gas from Kurdistan to Turkey, where it could be shipped further to Europe.

The deal calls for building an oil pipeline capable of carrying some 2 million barrels of oil per day and a gas pipeline capable of carrying some 10 billion cubic meters of gas per year.

The deal apparently does not have the backing of the Iraqi government in Baghdad, which has said many times it would not recognize as valid any deals signed without the central government's approval.

Based on reporting by Reuters