Exports of Iraqi oil from Turkey's port of Ceyhan are delayed by several days due to a payment dispute between Baghdad and Turkish companies, industry sources said on Friday. Buyers of Iraqi oil are concerned the row could drag on and disrupt crude shipments that have been running at 400,000 barrels per day - equal to more than a fifth of Iraqi oil exports.
A dispute over payment between Iraq and Turkish firms has resulted in Turkish authorities requiring the amount of Iraqi Kirkuk crude held in storage at the terminal to be increased by 600,000-800,000 barrels, the sources said, worth up to some $32 million at current prices.