Iraq, Turkey agree one-year oil pipeline deal targeting 750,000 barrels a day

Dubai: Iraq and Türkiye signed a one-year agreement today to transport and load Iraqi crude oil via the Iraq-Turkey pipeline to the port of Ceyhan, at a minimum rate of 750,000 barrels per day.

Ministry of Oil spokesman Salim Al Rikabi told the Iraqi News Agency (INA) that: "the agreement represents a prelude to a comprehensive agreement aimed at raising export capacity to more than one million barrels per day, after the completion of the (Basra - Haditha - Kirkuk - Ceyhan) pipeline.

“Today, Iraq and Türkiye achieved an important strategic milestone to ensure the uninterrupted flow of our oil exports and strengthen economic cooperation,” said Prime Minister Ali Al Zaidi on X.

“Iraqi and Turkish companies will begin implementing the agreement, while the two governments will move forward, through a carefully planned process, to finalize a comprehensive framework agreement covering the oil, electricity, and water resources sectors, along with other areas of cooperation that advance our shared interests and support development and stability,” underscored Al Zaidi.