INSEAD Day 4 - 728x90

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Iraq’s Kurdistan restarts oil exports through Turkey after quake

Civilians gather around a fire next to rubble of destroyed buildings in Kahramanmaras, southern Turkey. (AFP)
  • The northern region usually exports around 450,000 barrels of oil a day through Turkey
  • Authorities had said exports through Turkey's Ceyhan port would resume after inspection of pipelines

Arbil, Iraq–Iraq’s autonomous Kurdistan region said Tuesday it had resumed oil exports through Turkey after suspending them as a precaution following Monday’s deadly earthquake that rocked its northern neighbour and Syria.

“At 9:45 pm (1845 GMT) the Kurdistan region’s oil exports resumed via the pipeline connecting the area with Turkey,” the Kurdish ministry of natural resources said in a statement.

The northern region usually exports around 450,000 barrels of oil a day through Turkey, and has continued to pump oil out of the country despite the federal authorities demanding a halt to the trade.

Also read: Iraqi Kurdistan suspends oil export via quake hit Turkey

On Monday, authorities had said that “to ensure the safety of oil exports and prevent any undesirable incidents, oil exports through the pipeline connecting the Kurdistan region to Turkey have been suspended”.

Authorities had said exports through Turkey’s Ceyhan port would resume after inspection of pipelines.

Rescuers in Turkey and Syria were battling on Tuesday to find survivors under buildings flattened by the earthquake that killed more than 7,300 people.

The 7.8-magnitude quake struck early on Monday as people slept, trapping an unknown number and potentially impacting millions.