Turkey Iraq sign one-year oil pipeline deal

Turkey and Iraq signed a one-year interim agreement on August 1, 2026, to continue operations of the Iraq-Turkey Pipeline, a key crude oil export route connecting Iraqi fields to the Turkish port of Turkey — Ceyhan. The deal, signed between Turkish state firm BOTAŞ and Iraq's SOMO and NOC, covers a transit capacity of 750,000 barrels per day. It follows the expiry of the previous arrangement and provides time for negotiations on a long-term framework. The pipeline currently operates at about 170,000 BPd, far below its 1.5 million BPd capacity, largely due to disruptions from the Iran conflict and attacks on Kurdistan region fields. The agreement is seen as strategically important amid the closure of the Strait of Hormuz, which has forced Iraq to seek alternative export routes. Iraqi Prime Minister Ali al-Zaidi called it a 'strategic milestone', and both sides aim to eventually expand the pipeline to carry crude from southern Iraq and possibly other Gulf countries.