Iraq signs deal to export 750,000 barrels per day via Ceyhan

BAGHDAD, Iraq — Iraq's Oil Ministry announced on Saturday the signing of a tripartite agreement covering crude oil exports of 750,000 barrels per day through Turkey's Ceyhan port. Ministry spokesman Selim al-Rikabi told the state news agency that a senior Iraqi delegation traveled to Turkey to sign the deal, led by Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Muhammad Khudhair. The agreement is valid for one year and sets the framework for a broader, long-term energy cooperation arrangement between the two countries. Iraq is represented by state oil marketer SOMO and the North Oil Company, while Turkey's state pipeline operator BOTAŞ is the Turkish signatory. A ministry official said reaching the 750,000-barrel target depends on improved security in the Kurdistan Region, the return of foreign companies and the resumption of production in northern fields. The deal also envisages transporting southern crude oil to the north. Iraq aims to raise its export capacity to more than one million barrels per day once the Basra–Haditha–Kirkuk–Ceyhan pipeline is completed.