Iraq Targets 700,000 bpd Oil Exports via Northern Pipeline Under Turkish Accord

Iraqi Oil Minister Khudhair disclosed that the country is advancing an ambitious plan to divert part of its southern oil fields’ production through the northern pipeline, aiming to achieve export rates surpassing 700,000 barrels per day in line with an agreement concluded with Turkey.

Extension of Kurdistan Region oil understandings

In a statement to the Iraqi News Agency (INA), Khudhair confirmed the signing on 1 August of a significant agreement extending existing oil understandings with the Kurdistan Region for one year. During this period, officials will draft a long-term framework agreement. He stated the move seeks to guarantee continuity in crude oil exports from Kurdistan Region fields and to implement the plan for transporting a portion of southern oil fields’ output via the northern pipeline.

Discussions with Iran on Strait of Hormuz transit

Khudhair revealed that Iraqi delegations have held talks with Iranian authorities to address the smooth passage of oil tankers through the Strait of Hormuz. He expressed expectations of reaching concrete understandings in the coming days. He further noted that Iraqi officials engaged Iran on facilitating tanker movement through the strait, with aspirations toward broad agreements that would help safeguard shipments and ease their transit.

Regional cooperation as economic foundation

The minister emphasized that the government’s orientation rests on building channels of communication, partnership, and joint investment with all neighboring countries, describing this approach as a fundamental pillar for supporting the national economy.