Turkey's Energy Ministry said on Tuesday that Iraq had been ordered by the International Chamber of Commerce (ICC) to pay compensation to Ankara in a longstanding arbitration case related to oil exports from northern Iraq via Turkey.
The Turkish energy ministry statement was released after Iraq's oil ministry said on Saturday the ICC had ruled in its favour in the case. The Turkish statement said the ICC had recognised a majority of Turkey's demands, without saying how much compensation Iraq had been ordered to pay.
Iraq on Saturday halted crude exports of 450,000 barrels per day from the semi-autonomous Kurdistan region and northern Kirkuk. " ordered Iraq to pay a compensation to Turkey," the ministry said, without revealing the amount of compensation. "This case is in fact a reflection of disagreement between Iraq's central government and Iraq's Kurdish Regional Administration," the Turkish ministry said.
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