Baghdad: Iraq and Trkiye signed a one-year agreement today to transport and load Iraqi crude oil via the Iraq-Turkey pipeline to the port of Ceyhan, at a minimum rate of 750,000 barrels per day.

According to Emirates News Agency, Ministry of Oil spokesman Salim al-Rikabi stated that the agreement is a step towards a comprehensive agreement aimed at increasing export capacity to more than one million barrels per day, pending the completion of the Basra – Haditha – Kirkuk – Ceyhan pipeline. Prime Minister Ali Al-Zaidi highlighted the importance of this strategic milestone on X, emphasizing its role in ensuring the continuous flow of oil exports and enhancing economic cooperation between the two nations.

Al-Zaidi further noted that Iraqi and Turkish companies would commence the implementation of the agreement. Meanwhile, the governments of Iraq and Trkiye are set to progress through a structured process to finalize a comprehensive framework agreement that encompasses the oil, electricity, and water resources sectors. This agreement aims to foster cooperation in various sectors, supporting mutual interests and promoting development and stability.