09:00 - 3.08.2026

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August 3, Fineko/abc.az. Turkish Minister of Energy and Natural Resources Alparslan Bayraktar announced a new energy agreement with Iraq following a meeting with Iraqi Oil Minister Basim Mohammed Hudeyir in Ankara.

The one-year agreement signed between Turkey's BOTAŞ and Iraqi state oil entities SOMO and NOC aims to ensure the efficient utilization of the Iraq-Turkey Crude Oil Pipeline.

Key Highlights:

• Transit Capacity: The arrangement sets terms for transporting 750,000 barrels per day of Iraqi crude oil through the port of Ceyhan to global markets.

• Long-Term Vision: Work continues toward establishing a comprehensive long-term deal for the historic transit corridor, which has operated for nearly half a century.

• Energy Security: Minister Bayraktar highlighted the corridor's strategic importance for regional and global energy security, noting the broader ambition to channel both Iraqi and regional energy supplies to world markets via Ceyhan.