Iraq and Turkey strike a 1-year oil pipeline deal to boost exports during ongoing Hormuz closures
The extension keeps 750,000 barrels a day moving while Iraq seeks a broader deal to reduce reliance on Gulf shipping lanes.
- Iraq and Turkey signed a deal Saturday to increase oil exports through a pipeline to the Turkish Mediterranean port of Ceyhan, as Baghdad seeks to diversify export routes and reduce reliance on Gulf shipping lanes.
- The Iraq-Turkey pipeline has been largely idle since 2023 after Kurdish regional disputes, though it resumed in limited capacity last year; the move strengthens resilience following Strait of Hormuz shipping disruptions.
- Targeting a minimum of 750,000 barrels of crude per day from Kirkuk to Ceyhan, the agreement represents a significant increase from current exports of around 200,000, though still below pre-conflict levels of 3.5 million.
- Iraqi Oil Minister Bassem Mohammed Khudair announced the one-year agreement, while Iraqi Prime Minister Ali called it an "important strategic milestone" to strengthen economic cooperation between the nations.
- The countries are considering joint infrastructure projects, including a pipeline connecting Basra to Haditha, Ceyhan, and Baniyas on Syria's coast, following Zaidi's recent visit to Ankara for broader regional talks.
53 Articles
53 Articles
Turkey, Iraq sign one-year oil pipeline deal
How much oil can the two countries pump per day? Turkey and Iraq have agreed to extend the Kirkuk-Ceyhan oil pipeline agreement, which exports Iraqi oil to the Mediterranean, for another year. This decision is intended to preserve an alternative supply route to global markets amid risks to shipping through the Strait of Hormuz. This was reported by RBC-Ukraine, citing Bloomberg. According to the agency, the parties agreed to a temporary extensio…
Türkiye, Iraq sign deal to transport 750,000 barrels of oil per day
Ankara, Aug. 1 (SANA) Türkiye and Iraq signed a one-year oil agreement on Saturday to transport 750,000 barrels of crude oil per day through the pipeline linking the two countries, with the aim of strengthening global energy supply security. According to Türkiye’s Anadolu Agency, the Turkish Ministry of Energy and Natural Resources said in a statement that Turkish Energy Minister Alparslan Bayraktar met Iraqi Oil Minister Bassem Mohammed Khudair…
Coverage Details
Bias Distribution
- 41% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
