Türkiye and Iraq said on Saturday they agreed to extend a key oil pipeline agreement by one year, just days after a top-level visit by Iraqi Prime Minister Ali al-Zaidi to Ankara, officials on both sides said.
In a post on X, Energy and Natural Resources Minister Alparslan Bayraktar said the agreement was signed following a "productive meeting" in Ankara with Iraqi Oil Minister Bassem Mohammed Khudair.
Zaidi also hailed the deal in a post on X, describing it as "an important strategic milestone" which would involve "a minimum export capacity of 750,000 barrels per day."
The decades-old agreement on the pipeline, which carries Iraqi crude to Türkiye's Mediterranean export terminal of Ceyhan, a key outlet for regional oil shipments, had expired on Monday.
"While our efforts continue toward a new long-term agreement for this pipeline.. we have implemented this transit arrangement covering a daily capacity of 750,000 barrels," Bayraktar wrote.
