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Oil Minister: Agreement with Turkey vital for Iraq's oil exports
Iraqi Oil Minister Bassem Muhammad Khudair emphasized that the agreement with Turkey regarding the use of the Ceyhan pipeline to transport oil constitutes a fundamental pillar for enhancing Iraq's oil industry and securing export outlets. Baghdad and Ankara have signed a one-year agreement allowing the export of 750,000 barrels per day, with intentions to raise the cap to 1.5 million barrels per day within a year through a new framework agreement based on updating the 1973 agreement. This step is part of a strategy to strengthen economic and energy cooperation between the two countries, with discussions also covering investment in and development of oil fields inside Iraq, as well as establishing partnerships in upstream and downstream sectors. Both sides also highlighted the importance of the pipeline as a strategic route connecting Iraq to global markets via the Ceyhan port, reflecting a long-term commitment to ensuring the sustainability of export operations and achieving energy goals for both nations.
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