Iraq eyes higher oil exports through Turkey
Iraq and Turkiye have advanced work on a draft agreement governing Iraqi oil exports through the Turkish port of Ceyhan, Oil Minister Bassem Al-Abadi has said. Al-Abadi said talks with the Turkish energy minister in Ankara at the week end focused on increasing export capacity through Ceyhan and expanding Turkish companies’ participation in Iraqi oil ...
Iraq and Turkey have made significant progress in negotiations over a draft agreement governing Iraqi oil exports through the Turkish port of Ceyhan, according to Oil Minister Bassem Al-Abadi. The discussions, held at the weekend in Ankara, centered on boosting export capacity via Ceyhan and increasing the involvement of Turkish companies in Iraqi oil and gas projects.
Al-Abadi described the meeting as "very productive" and noted that the partnership could attract international companies to invest in Iraq's oil and gas sector.
The two nations have also established two joint technical committees: one focusing on oilfield investment and the other on developing and constructing oil infrastructure. They discussed potential partnerships between Iraqi and Turkish companies.
On August 1, Iraq and Turkey signed a one-year agreement to transport a minimum of 750,000 barrels of Iraqi crude daily through the Iraq-Turkey pipeline to Ceyhan, pending negotiations on a broader framework agreement. Prime Minister Ali Al-Zaidi announced that Iraqi and Turkish companies would commence implementing the arrangement as they worked towards a comprehensive agreement encompassing oil, electricity, and water resources.
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