Iraq's exports safeguarded via Turkey
Turkey and Iraq have signed a one-year agreement to extend the use of the oil pipeline between the two countries, ensuring the continued export of oil from Baghdad through this route despite the termination of the previous arrangement. The new agreement involves transferring approximately 750,000 barrels per day out of a total capacity of 1.5 million barrels. Ankara aims to maximize the pipeline's utilization and eventually connect it to oil fields in southern Iraq to boost flows and improve Iraq's oil export flexibility, with considerable space for increasing the transported quantities. The agreement is intended to provide time for discussions and the signing of a long-term deal that includes expanding cooperation and increasing the volume of oil transported via Turkey, thereby strengthening its role as a regional energy transit hub and offering Iraq a more stable export pathway.
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