Iraqi-Turkish Agreement to Resume Oil Exports via Ceyhan Port

The Turkish Ministry of Energy and Natural Resources announced the signing of a formal agreement with Iraq regarding the use of the oil pipeline extending to the Turkish port of Ceyhan. This strategic move aims to enhance bilateral cooperation and facilitate the transportation and export of Iraqi crude oil. Sources within the Iraqi Ministry of Oil clarified that the agreement sets an initial export capacity of 750,000 barrels per day, contingent upon improved security conditions and the resumption of production in the northern regions. This step paves the way for a broader, comprehensive agreement aimed at increasing export capacity to over one million barrels per day once the necessary strategic pipeline infrastructure is completed.