The Iraqi Minister of Oil, Hayyan Abdel-Ghani, announced the resumption of oil exports from Iraq through the Kirkuk-Ceyhan pipeline to Turkey starting today. The pipeline will initially facilitate the export of 170,000 barrels per day, with plans to gradually increase this amount to 250,000 barrels per day. This marks a significant step in reopening a vital trade route for Iraqi oil following previous disruptions.

On Tuesday, an agreement was reached between the Iraqi government and the government of the Iraqi Kurdistan region to restart oil exports to Turkey. This collaboration points to a renewed partnership between the two governments, possibly aimed at stabilizing and enhancing economic ties through the energy sector. The resumption of exports is crucial for Iraq’s economy, which heavily relies on oil revenue for funding public services and infrastructure projects.

Today, the Iraqi state oil company, SOMO, also finalized agreements with international carriers and buyers for the export of crude oil via Turkey, Jordan, and Syria, as reported by the Iraqi state news agency. This international engagement not only facilitates the flow of oil but also reflects Iraq’s broader strategy to diversify its export routes and strengthen its position in the global oil market.