Oil exports from Iraq to Türkiye’s Ceyhan Port are set to resume this week after more than a year-long suspension, Iraqi Oil Minister Hayan Abdul Ghani said Wednesday.
"We will resume oil exports via the Turkish Ceyhan pipeline today or tomorrow, starting with 80,000 barrels per day (bpd)," Ghani told Iraqi News Agency during his visit to Kirkuk, northern Iraq.
Ghani also announced the inauguration of several oil station development and rehabilitation projects in the Kirkuk Province.
Oil exports from Iraq to Türkiye's Ceyhan Port were halted on March 25, 2023, following a ruling by the Paris-based International Court of Arbitration and amid ongoing political and legal disputes between Erbil and Baghdad.
According to a presidential decree published in Türkiye's Official Gazette last month, the Türkiye-Iraq Crude Oil Pipeline Agreement, in effect since 1973, will expire on July 27, 2026.
Speaking to Anadolu’s Editors’ Desk last week, Turkish Energy and Natural Resources Minister Alparslan Bayraktar said a new draft agreement on the Iraq-Türkiye Crude Oil Pipeline had been submitted to Iraqi officials, aiming to utilize the pipeline’s full capacity of 1.5 million bpd.
"At full capacity, this means nearly $40 billion in annual trade," Bayraktar added.
Reporting by Haydar Karaalp in Baghdad
Writing by Handan Kazanci
Anadolu Agency
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