Iraqi Prime Minister Ali Falah Zeydi described the oil deal with Türkiye as a strategic success. In a statement on social media, Zeydi announced that under the agreement, at least 750,000 barrels of crude oil per day would be transported via the Iraq-Türkiye oil pipeline to the Ceyhan port.
Stressing that this step is of great importance for guaranteeing the continuity of oil exports and deepening economic cooperation between the two countries, Zeydi said that Iraqi and Turkish companies would begin work in this direction.
The Iraqi Prime Minister also noted that the two governments are working on a framework cooperation agreement in oil, electricity, water resources and other areas, and said this agreement would strengthen mutual interests and contribute to regional development and stability.
Signed on Saturday
The one-year agreement signed between Türkiye and Iraq on Saturday aims at the effective use of the existing oil pipeline and global energy supply security.
The Iraq-Türkiye oil pipeline, which has been in operation for nearly 50 years, serves as a strategic energy corridor between the two countries.
Minister Bayraktar: Alternative to Hormuz crisis
Turkish Energy and Natural Resources Minister Alparslan Bayraktar said the pipeline not only boosts bilateral trade relations but also makes a significant contribution to the supply security of global oil markets.
"In a world facing the Hormuz crisis and with 20 million barrels of oil stuck in the Gulf, this line is of extraordinary importance as an alternative route," Bayraktar said.
Noting that Türkiye has operated two lines from Silopi to Ceyhan for nearly half a century, Bayraktar recalled that he met with Zeydi in Baghdad in July and that Zeydi visited Ankara on July 28.
On the same day, Turkish Petroleum acquired a 15 percent stake in a Kirkuk-based subsidiary of BP.
