Türkiye and Iraq Sign One-Year Agreement on Iraq-Türkiye Crude Oil Pipeline

Türkiye and Iraq have signed a one-year agreement to maintain operations of the Iraq-Türkiye Crude Oil Pipeline, which has been a key export route for nearly half a century.

The pipeline transports up to 750,000 barrels of crude oil per day and provides an alternative to the Strait of Hormuz, which has been affected by the current crisis in the region.

Türkiye's Energy Minister Alparslan Bayraktar said that this pipeline is 'of tremendous importance' as an alternative export route at a time when the world is facing the Hormuz crisis.

The agreement was signed between Türkiye's state pipeline operator BOTAS and Iraq's state-owned oil companies, SOMO and NOC.