Jihan's Line and Iraqi Oil Exports
Iraq and Turkey signed a one-year agreement to ensure the continued operation of the oil pipeline leading to the port of Ceyhan on the Mediterranean Sea. The goal is to strengthen Iraq's oil export outlets amid maritime disruptions in the Strait of Hormuz. Currently, export capacity is recorded at 750,000 barrels per day, with plans to increase it to 1.5 million barrels by updating an old agreement from 1973, aiming to compensate for some of the decline in exports through the Gulf and the Strait of Hormuz. This pipeline is an important step toward diversifying export routes and reducing reliance on southern passages. However, reaching the targeted export levels will not be immediate and will require investments and technical upgrades. It is a temporary solution that helps boost revenues and mitigate losses caused by geopolitical crises.
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