Iraq is studying a plan to export crude oil to Turkey via trucks, Iraqi Oil Minister Basim Mohammed Khudair announced. The move aims to increase oil exports through the Turkish port of Ceyhan. The plan involves transporting crude oil from southern fields to Kirkuk, which is expected to raise exports through Ceyhan to over 600,000 barrels per day.
According to Minister Khudair, Iraq exported 70 million barrels of oil in August, with current exports exceeding three million barrels per day. The minister's statement was reported by Reuters. The potential increase in exports through Ceyhan is significant, given the existing infrastructure and agreements in place.
Iraq and Turkey signed an agreement on August 1 to transport and load Iraqi crude oil through the Iraqi-Turkish pipeline to the port of Ceyhan. The deal guarantees a minimum of 750,000 barrels per day. The agreement is seen as a precursor to a comprehensive deal that aims to increase export capacity to over one million barrels per day once the Basra-Haditha-Kirkuk-Ceyhan pipeline is completed.
The agreement between Iraq and Turkey has been hailed as a strategic achievement by Iraqi Prime Minister Ali Al-Zeidi. He emphasized that the deal ensures the smooth flow of Iraqi oil exports and strengthens economic cooperation between the two countries. The development is crucial for Iraq's oil industry and its relations with Turkey.
The Iraqi government is keen on expanding its oil export capabilities, and the deal with Turkey is a significant step in this direction. The use of trucks to transport crude oil to Turkey is being explored as a temporary solution to increase exports while the new pipeline is being developed.
The spokesperson for the Iraqi Ministry of Oil, Salim Al-Rikabi, provided additional context on the agreement. He stated that the deal is a positive development for Iraq's oil industry and will help to increase export capacity. The ministry is working to implement the agreement and ensure that oil exports are carried out efficiently.
The potential increase in oil exports to Turkey is expected to have a positive impact on Iraq's economy. The country's oil industry is a significant contributor to its GDP, and increased exports will help to boost revenue. The development is also expected to strengthen ties between Iraq and Turkey, which have been working to enhance economic cooperation in recent years.
Key points
- Iraq plans to export crude oil to Turkey via trucks to boost shipments through the Turkish port of Ceyhan.
- The agreement between Iraq and Turkey guarantees a minimum of 750,000 barrels per day.
- The deal aims to increase export capacity to over one million barrels per day once the Basra-Haditha-Kirkuk-Ceyhan pipeline is completed.
