Iraq and Turkey Sign Strategic Oil Export Deal, Boosting Regional Energy Security
According to the International Desk of Webangah News Agency, Iraqi Prime Minister Mohammed Shia Al Sudani has described the signing of an oil agreement between Iraq and Turkey as a significant strategic achievement aimed at guaranteeing the smooth flow of Iraqi oil exports.
In a statement on his X account, Al Sudani emphasized that the agreement ensures the transit and loading of crude oil from Iraqi and Turkish pipelines to the port of Ceyhan, with a minimum capacity of 750,000 barrels per day, thereby strengthening economic cooperation between Iraq and Turkey.
The Iraqi Prime Minister added that Iraqi and Turkish companies will commence their responsibilities under this agreement. The governments of both countries will also work within a planned framework to finalize a comprehensive framework agreement. This overarching agreement will encompass the oil, electricity, and water resources sectors, as well as other areas of cooperation, with the objective of enhancing mutual interests and supporting development and stability.
Earlier, Turkish Energy Minister Alparslan Bayraktar announced a meeting with Iraqi Oil Minister Bassim Mohammed Khudair. Bayraktar stated on his X account that a productive meeting was held with Khudair and his delegation at the ministry.
Following the meeting, a one-year agreement was signed between Turkey’s BOTAS and Iraq’s state-owned oil companies, the Oil Marketing Company (SOMO) and the Iraq National Oil Company (NOC), for the effective utilization of the Iraq-Turkey crude oil pipeline. Bayraktar noted that while negotiations for a new long-term agreement continue, this interim deal allows for the immediate operationalization of the pipeline with a daily capacity of 750,000 barrels.
The Turkish Energy Minister highlighted the pipeline’s strategic importance, stating that it safely and uninterruptedly transports Iraqi oil to global markets via Ceyhan. He asserted that the pipeline holds greater strategic value than ever in ensuring regional and global energy security, a point underscored by recent global oil market developments.
Bayraktar further explained that the goal is to leverage this robust infrastructure to foster comprehensive and long-term cooperation. This collaboration aims not only to facilitate the transfer of Iraqi oil but also to transport regional energy resources to global markets through Ceyhan, thereby initiating a new chapter in energy partnership between Turkey and Iraq.
