Baghdad (IraqiNews.com) – The Iraqi Ministry of Oil announced on Sunday a proposal to increase oil exports through the Turkish port of Ceyhan to 750,000 barrels per day by using tanker trucks to transport crude oil from southern oilfields.
The spokesperson for the Iraqi Oil Ministry, Salim al-Rikabi, told the state-run Iraqi News Agency (INA) that the plan includes increasing exports through southern ports.
Iraq and Turkey recently inked a one-year short-term deal to continue operations through the critical Iraq-Turkey oil pipeline.
The agreement, reached in Ankara following discussions between Turkish Energy Minister Alparslan Bayraktar and Iraqi Oil Minister Basim Khudair, guarantees the ongoing transportation of at least 750,000 barrels of Iraqi crude oil per day to the Turkish port of Ceyhan.
Turkey’s state-owned crude oil and natural gas pipeline corporation (BOTAS) signed an agreement with Iraq’s State Organization for Marketing of Oil (SOMO) and the North Oil Company (NOC).
The new deal is now valid for 12 months until both countries develop a new, long-term legislative framework.
The previous agreement, which was reached in 1973, officially expired on July 27.
The short extension of the deal is crucial for Iraq’s revenue from oil exports, as Baghdad seeks alternative export routes to mitigate risks linked to the Strait of Hormuz.