سیاسة

rss

كوردســتانيات

أمـن

مجتـمع

أخرى

اقتصـاد

عربي ودولي

القسم الفيلي

ريـاضة

منوعـات

فيديو

تقارير وتحليلات

مقـالات

كل الاخبار

The Kirkuk-Ceyhan pipeline explosion will not affect oil prices, expert says

Category: Economy

Date: 2022-01-19T11:41:13+0000
The Kirkuk-Ceyhan pipeline explosion will not affect oil prices, expert says

Shafaq News / Oil expert, Hamza al-Jawahiri, said that the explosion that affected the Kirkuk-Ceyhan pipeline will not affect oil prices.

Al-Jawahiri told Shafaq News agency that the pipeline exports small quantities of oil reaching 620,000 barrels a day, through Europe, Turkey, and the US.

The pipeline can be fixed in no time since it is inside Turkish territories where maintenance teams are always ready, he indicated, noting that the pipeline will take two days maximum to be fixed, and then everything will go back to normal.

Turkey's state pipeline operator has put out a blaze following an explosion that cut oil flow at the Kirkuk-Ceyhan pipeline near the southeastern province of Kahramanmaras, it said.

Tuesday's accident was the latest in a series of supply disruptions that have driven global crude prices to seven-year highs.

The fire that erupted after the explosion has been extinguished, while firefighters and emergency units engage in cooling efforts, said the operator, Botas.

"The oil pipeline will be operational as soon as possible after necessary precautions are taken," it said in a statement, adding that the reason for the blast, close to the 511th kilometer of the pipeline, was unknown.

Brent crude futures rose $1.04, or 1.2%, to $88.55 a barrel by 0351 GMT, adding to the previous session's jump of 1.2%. The benchmark contract climbed to as much as $89.05, its highest since Oct. 13, 2014.

The pipeline carries crude oil from Kurdistan for export from Turkey's port of Ceyhan.

Kurdish crude exports averaged 10 million barrels per month between October and December, Refinitiv Eikon shipping data showed. So far, 5.2 million barrels have been loaded in January.

The cargoes mainly head to refineries in Mediterranean countries such as Croatia, Greece, Italy and Spain, data showed.

related

Oil prices drop 3% after US president contracted Coronavirus

Date: 2020-10-02 09:37:29
Oil prices drop 3% after US president contracted Coronavirus

Oil rose again amid new coronavirus variant revives demand fears

Date: 2020-12-23 12:15:14
Oil rose again amid new coronavirus variant revives demand fears

Oil edges higher on inventory drawdowns, Brent tops $75 a barrel

Date: 2021-07-29 05:48:31
Oil edges higher on inventory drawdowns, Brent tops $75 a barrel

Oil edges down as demand concerns weigh, heading for weekly fall

Date: 2022-06-17 06:07:05
Oil edges down as demand concerns weigh, heading for weekly fall

Oil drops as rally fizzles out on supply concerns, vaccine doubts

Date: 2020-11-27 08:09:44
Oil drops as rally fizzles out on supply concerns, vaccine doubts

Oil prices slip as focus switches from Suez Canal blockage to OPEC+ supply policy

Date: 2021-03-30 05:47:53
Oil prices slip as focus switches from Suez Canal blockage to OPEC+ supply policy

Oil prices climb as COVID recovery, power generators stoke demand

Date: 2021-10-19 05:52:11
Oil prices climb as COVID recovery, power generators stoke demand

Iraq increases oil exports

Date: 2020-07-30 11:06:10
Iraq increases oil exports