14 Hrs
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LBCI Lebanon
Turkey signs oil pact with BP in Iraq
Turkey announced the signing of an agreement with the Iraqi oil group "BP," coinciding with Prime Minister Ali Al-Zaydi's visit to Ankara. The agreement includes Turkey's Petroleum Corporation obtaining a 15% share in BP's stocks in the Kirkuk fields. The aim of the deal is to strengthen cooperation in the production of potential oil reserves estimated at three billion barrels. It follows the expiration of the 1973 Kirkuk-Ceyhan pipeline agreement. This agreement is considered a historic step to enhance Turkish-Iraqi partnership in the energy sector, with Turkey remaining a vital corridor for Iraq's oil exports.
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