IEA Proposes "Basra-Ceyhan" Pipeline to Secure Oil Supplies Away from Hormuz

 IEA Executive Director Fatih Birol proposed the construction of a strategic pipeline linking Basra fields to the Turkish port of Ceyhan, aiming to reduce reliance on the Strait of Hormuz and secure Iraqi oil flow to Europe. Birol emphasized that the project is a strategic necessity for Iraq, which exports 90% of its oil through threatened waterways, noting that the current timing is ideal for launching this project to bolster international market stability amidst ongoing 2026 geopolitical tensions.