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Iraq and Turkey are discussing increasing oil export capacity through the Ceyhan port, as part of a new agreement aimed at boosting exports and bypassing disruptions in the Strait of Hormuz. The new agreement stipulates raising the export ceiling from 750,000 barrels per day to 1.5 million barrels per day, with the goal of diversifying oil export routes and strengthening Iraq’s economy. Both governments are forming technical committees to enhance the investment in oil fields and develop infrastructure, while the involvement of Turkish companies represents a key focus in the negotiations.
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