Energy, Oil & Gas

Iraq, Türkiye sign one-year oil pipeline deal

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Image by Michal Krakowiak/ iStock

Iraq and Türkiye have signed a one-year agreement to transport and load Iraqi crude oil through the Iraq-Turkey pipeline to the Turkish port of Ceyhan at a minimum rate of 750,000 barrels per day.

Salim Al-Rikabi, Iraqi Oil Ministry spokesman,told the Iraqi News Agency (INA) that: "The agreement represents a prelude to a comprehensive agreement aimed at raising export capacity to more than one million barrels per day, after the completion of the (Basra - Haditha - Kirkuk - Ceyhan) pipeline."

Ali Al-Zaidi, Prime Minister, welcomed the deal, saying on X: “Today, Iraq and Türkiye achieved an important strategic milestone to ensure the uninterrupted flow of our oil exports and strengthen economic cooperation.”

He added: “Iraqi and Turkish companies will begin implementing the agreement, while the two governments will move forward, through a carefully planned process, to finalise a comprehensive framework agreement covering the oil, electricity, and water resources sectors, along with other areas of cooperation that advance our shared interests and support development and stability.”