Turkey and Iraq Ink One-Year Deal to Operate Vital Oil Pipeline to Ceyhan

Turkish Energy Minister Alparslan Bayraktar announced on Saturday the signing of a one-year agreement with Iraq for the operation of the crude oil pipeline leading to the Turkish port of Ceyhan. Following a productive meeting in Ankara with Iraqi Oil Minister Basim Mohammed Khdeir and his delegation, Bayraktar confirmed the accord was reached between Turkey's Petroleum Corporation (BOTAŞ) and Iraq's state-owned oil companies, SOMO and the Iraqi National Oil Company. The agreement aims to ensure optimal utilization of this vital pipeline. The minister stated that while efforts continue towards a new long-term agreement for this pipeline—a strategic energy corridor for nearly half a century—the current transit deal covers a capacity of 750,000 barrels per day. Bayraktar emphasized that this pipeline, which safely transports Iraqi oil to global markets via Ceyhan, holds heightened strategic importance for regional and global energy supply security, especially given developments in international oil markets. He added that the objective is to fully leverage this robust infrastructure and foster comprehensive, long-term cooperation. This collaboration is intended to usher in a new era for the Turkish-Iraqi energy partnership, facilitating the transfer of energy resources from Iraq and the broader region to global markets through Ceyhan.