Iraq and Turkey Extend Kirkuk-Ceyhan Pipeline Deal for Another Year

Iraq and Turkey have agreed to extend their five-decade-old deal for the transit of crude oil along the Kirkuk-Ceyhan pipeline, but only for another year. The interim agreement was signed by Iraqi and Turkish officials without providing further details on the terms of the extension.

The Kirkuk-Ceyhan pipeline has been a crucial export route for Iraq's crude oil, with significant implications for the country's economy. In related news, Iraq aims to increase pipeline crude oil flows by 250% within the next 75 days, according to an official statement published in March.