ISTANBUL,— Turkey and Iraq have signed a one-year deal to keep oil flowing through the pipeline linking the two countries, Turkish Energy Minister Alparslan Bayraktar said Saturday.
The new deal extends a long-standing arrangement that had expired on Monday. That agreement covers the Iraq-Turkey Pipeline, which is Baghdad’s only working export route for crude oil.
Bayraktar said talks are still underway to reach a new long-term agreement for the pipeline. In the meantime, he said, both sides have put in place a transit deal covering daily shipments of 750,000 barrels.
He described his meeting in Ankara with Iraq’s oil minister and delegation as productive.
The one-year deal was signed between Turkey’s state energy firm BOTAS and Iraq’s state oil companies, SOMO and NOC.
The extension buys time for both countries to work out a broader agreement.
Turkey hopes to see the pipeline, which can carry up to 1.5 million barrels a day, used at full capacity. Ankara has also floated the idea of extending the line to reach oil fields in southern Iraq.
The pipeline runs to the Turkish port of Ceyhan and is currently moving about 170,000 barrels a day, based on figures from Turkey.
Iraqi Prime Minister Ali al-Zaidi said on social media platform X that companies from both nations will begin carrying out the agreement, while the two governments continue working toward a wider deal.
He said that broader framework would cover oil, electricity, water resources, and other areas of shared interest, aimed at supporting development and stability.
Iraq depends heavily on oil exports, which make up roughly 90 percent of its total government revenue.
(With files from Reuters | Xinhua)
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