Minister: Turkey to build pipeline for Iraqi oil supply

Oil&Gas Materials 2 November 2013 14:14 (UTC +04:00)

Azerbaijan, Baku, November 2/Trend, R.Hafizoglu/

A new oil pipeline will be built in Turkey for oil supply from the northern Iraq, Turkish Minister of Energy and Natural Resources Taner Yildiz said, Turkish CNN Turk TV Channel reported on Saturday.

According to the Minister, the new oil pipeline is needed for improving oil supplies.

Earlier Taner Yildiz said Turkey will deliver Iraqi oil to world markets.

According to the minister, Ankara is ready to purchase exported Iraqi oil.

It was earlier reported that according to the Turkish Minister of Energy and Natural Resources, Taner Yildiz, the Kirkuk-Yumurtalik oil pipeline operates at one-third of its capacity which is detrimental to Iraq's economic interests.

The minister also added that the defective operation of Kirkuk-Yumurtalik oil pipeline leads to excess expense which reduces the incomes from oil sales and Turkey is ready to eliminate the malfunction in the pipeline.