European oil companies slide after Iraq-Turkey pipeline exports resume

Aker BP ASA

18/03/2026 08:44

** Shares in major European oil companies slide; Barclays and HSBC analysts point to a resumption of crude exports via pipeline between Iraq and Turkey as a reason

** Crude exports from Iraq's Kirkuk fields to Turkey's Ceyhan port have resumed via pipeline, North Oil Company sources said, after agreement between Baghdad and the Kurdistan Regional Government

** Maurel & Prom MAUP.PA and Orlen PKN.WA fall around 2.4% to 3%, while Repsol REP.MC and Eni ENI.MI slide about 1.3%

** Galp GALP.LS, Aker BP AKRBP.OL, OMV OMVV.VI and Equinor EQNR.OL fall 0.7%-1.6%

** Oil prices fall after the news, with Brent futures LCOc1 retreating $1.51, or 1.46%, to $101.91 a barrel by 0731 GMT and U.S. West Texas Intermediate crude CLc1 dropping $2.75, or 2.86%, to $93.46.

     ** TotalEnergies TTEF.PA, on the other hand, is up 0.5%, roughly in line with the Europe-wide STOXX 600 .STOXX index

(Reporting by Javi West Larrañaga)

((javier.west@thomsonreuters.com; +34 918 35 61 12))