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Turkey, Iraq to sign 12-month extension of oil pipeline deal
Turkey and Iraq plan to extend the pipeline pact for 12 months, preserving a route that carries about 90% of Iraq’s government revenue from oil.
- Turkish Energy Minister Alparslan Bayraktar announced on Thursday that Turkey and Iraq will sign a one-year agreement within days to keep the crude oil pipeline between the two nations open.
- The nations are negotiating this extension because their decades-old pipeline agreement, which governs export flows, is scheduled to expire on July 27.
- During his official visit to Baghdad, Bayraktar met with Iraq Oil Minister Basim Mohammed and Iraqi Prime Minister Ali al-Zaidi to discuss oil and gas cooperation.
- "We have brought the agreement that will cover the next 12 months," Bayraktar said, confirming that oil flows to Turkey's port of Ceyhan will continue.
- The pipeline previously remained offline for 2.5 years after an arbitration court ordered Ankara to pay $1.5 billion in damages for unauthorized Iraqi exports between 2014 and 2018.
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ussanews.comIraq and Turkey rush to revive a 53-year-old oil lifeline
Baghdad and Ankara are on the verge of extending a pipeline agreement that predates the Islamic Republic of Iran’s current standoff with the West by nearly five decades. Turkish Energy Minister Alparslan Bayraktar announced on July 9 that the two nations have nearly finalized a one-year renewal of the Iraq-Turkiye Crude Oil Pipeline Agreement, first […]
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Total News Sources20
Leaning Left1Leaning Right7Center5Last UpdatedBias Distribution54% Right
Bias Distribution
- 54% of the sources lean Right
54% Right
C 38%
R 54%
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