Iraq, Turkiye sign agreement to transport crude oil exports via Ceyhan port

Iraq signed a one-year agreement with Turkiye on Saturday to transport and load Iraqi crude oil through the Iraq-Turkiye pipeline to the Turkish port of Ceyhan, the Iraqi Oil Ministry said.



Under the agreement, Iraq will export a minimum quantity of 750,000 barrels per day of crude oil through the pipeline, Iraqi Oil Minister Basim Mohammed Khudhair said in a statement issued by the ministry's media office.



"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," Iraqi Prime Minister Ali al-Zaidi said on his X page.



This pipeline, which safely and uninterruptedly delivers Iraqi oil to world markets via Ceyhan, has a more strategic position than ever before in terms of regional and global energy supply security, as demonstrated by developments in the global oil markets, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said on X.