Strategic Agreement Between Iraq and Turkey to Boost Oil Exports via Ceyhan Port

Iraq and Turkey have signed a strategic agreement regarding the use of the oil pipeline extending to the Turkish port of Ceyhan. This step aims to enhance economic cooperation and facilitate the transport and export of Iraqi crude oil. The agreement, involving major state-owned oil companies from both nations, sets an initial export capacity of 750,000 barrels per day. Achieving these volumes is linked to security stability in the northern regions, the return of foreign companies, and the resumption of production operations. This initiative serves as a prelude to a comprehensive agreement aimed at increasing export capacity to over one million barrels per day following the completion of strategic pipelines connecting southern and northern Iraq.