Türkiye Eyes Major Oil Trading Hub at Ceyhan Port

Türkiye aims to develop its oil terminals at Ceyhan on the Mediterranean coast into a regional center for storing, trading, and pricing crude and petroleum products. Energy Minister Alparslan Bayraktar said his goal is to turn Ceyhan 'something akin to Rotterdam.'

The area's pipelines already handle significant amounts of oil from Baku through the BTC pipeline and Iraq via the Iraq-Türkiye pipeline. Expanded flows from Iraq are central to Ankara's plans for the terminal, with a one-year agreement signed on August 1 securing 750,000 barrels per day of capacity.

Bayraktar estimated that the arrangement could generate around $500 million in transit revenue annually for Türkiye. The government also wants to extend the route south to Basra and increase the pipeline's capacity from 1.5 million to 2.5 million barrels per day.