Representatives of Iraq and Turkey have discussed increasing oil exports through the port of Ceyhan.
Sea-news.az reports that this was disclosed by the Ministry of Oil of Iraq.
It was reported that Iraqi Minister of Oil Basim Muhammad Khudair al-Abbadi met with Turkish Minister of Energy and Natural Resources Alparslan Bayraktar during his visit to Turkey.
The meeting covered the continuation of exports via the Ceyhan pipeline and the drafting of a new oil export agreement between the two countries. The parties also considered increasing the pipeline’s export capacity and the participation of Turkish companies in Iraq’s oil and gas projects.
Currently, the export capacity toward Ceyhan is designated at 750,000 barrels per day. Under the new framework agreement, this figure is planned to reach 1.5 million barrels per day.
Expanding the route would not only enhance alternative oil export avenues for Baghdad but also allow for a partial mitigation of risks associated with transit through the Strait of Hormuz.
It should be noted that the technical throughput capacity of the Ceyhan pipeline is 750,000 barrels per day. However, since the outbreak of the Hormuz crisis, Iraq has been unable to exceed the threshold of 170,000 barrels per day in daily oil exports via this pipeline.
