Strategic Iraqi-Turkish Agreement to Resume Oil Exports via Ceyhan Port

Iraq and Turkey have signed a strategic agreement aimed at resuming the use of the oil pipeline extending to the Turkish port of Ceyhan. This move is designed to enhance mutual cooperation in the energy sector and facilitate the transportation and export of Iraqi crude to global markets. The agreement, involving sovereign oil entities from both countries, establishes an initial export capacity of 750,000 barrels per day, contingent upon security stability and the resumption of production operations in the northern regions. This step serves as a prelude to a broader, comprehensive agreement intended to eventually increase export capacity beyond one million barrels per day upon the completion of strategic pipelines connecting the country's south and north.