Iraq, Turkey agree to one-year deal for oil exports via Ceyhan pipeline

Iraq and Turkey have reached a one-year agreement to restart oil exports via the Kirkuk-Ceyhan pipeline, a crucial route for Iraqi crude. The deal, announced by Iraqi Prime Minister Ali al-Zaidi, ensures the continued flow of oil from northern Iraq to Turkey's Mediterranean coast.

Prime Minister al-Zaidi hailed the agreement as a "strategic achievement" that will guarantee smooth oil exports and bolster economic cooperation between the two countries. The accord sets a maximum export limit of 750,000 barrels per day. The agreement was officially signed by Iraq's State Oil Marketing Company (SOMO) and the North Oil Company, alongside Turkey's state-owned BOTAŞ.

Officials are already working towards a more ambitious goal: increasing export volumes to 1.5 million barrels per day under a new framework agreement within the next year. This initiative signifies a broader intent for cooperation, with both governments collaborating on comprehensive deals covering oil, electricity, water resources, and other areas beneficial to both nations' development and stability.

The resumption of exports through the Kirkuk-Ceyhan pipeline is significant as it bypasses the Strait of Hormuz, a vital shipping lane often subject to regional tensions. This route is one of Iraq's primary export channels, and Baghdad is actively seeking to diversify its export outlets to maintain crude flows and mitigate risks associated with regional instability.

The pipeline, which has a length of approximately 1,000 kilometers, began operations in 1976 following a 1973 agreement between Iraq and Turkey. Its reactivation is a key step in stabilizing Iraq's energy sector and strengthening its economic ties with its neighbor.