Baghdad (IraqiNews.com) – An Iraqi government source stated on Saturday that a delegation from the Oil Ministry recently traveled to Turkey to discuss a mutually agreeable process for exporting Iraqi oil through Turkish ports. The Iraqi officials held discussions with Turkish energy officials, including Turkey’s Ministry of Energy and Natural Resources, according to local news outlet Shafaq News. The discussions focused on renewing the operating agreement for the pipeline, ensuring a steady oil flow from Kirkuk and Iraqi Kurdistan and negotiating terms to enhance export capacity through the port of Ceyhan.
The push for an oil flow increase is prompted by the region’s unstable security situation, which has directly affected the volume of Iraqi oil shipments to global markets, resulting in lower financial profits. The discussions focused on specific aspects of the export process, such as pipeline protection and procedures for boosting export capacity. The step takes place ahead of Iraqi Prime Minister Ali al-Zaidi’s upcoming visit to Turkey, which may lead to the finalization of various bilateral agreements, including those related to oil.
The development comes at a time when Iraq is seeking alternative and secure avenues to market its oil internationally. Iraqi Oil Minister Basim Khudair stated recently that Iraq is speeding up plans to build an oil pipeline to Mediterranean ports in Turkey and Syria, as the ongoing closure of the Strait of Hormuz continues to restrict shipments. The government-controlled North Oil Company (NOC) declared on July 18 that it had met the requirements needed to start exporting crude oil via the vital pipeline to the Turkish port of Ceyhan.
The post Iraq seeks to increase oil exports through Turkey’s Ceyhan appeared first on Iraqi News.
Summary from source