Iraqi Oil Minister Basim Muhammed Hudayyir stated that Iraq aims to export more than 700,000 barrels of oil per day to Turkey following an agreement signed on August 1.
The agreement signed with Turkey on August 1 extends existing oil agreements for one year and includes the preparation of a draft long-term framework agreement during that period, according to Hudayyir.
Hudayyir said that oil from southern Iraqi oil fields will be transported via northern pipelines with the objective of increasing daily exports above the 700,000-barrel mark.
Transit negotiations with Iran
Negotiations are currently underway with Iran to ensure the safe and uninterrupted transit of oil tankers through the Strait of Hormuz, the Oil Minister said.
An agreement with Iran regarding transit through the Strait of Hormuz is expected within a few days, Hudayyir stated.
The Iraqi government's primary goal is to strengthen communication, establish partnerships, and develop investment cooperation with neighboring countries, Hudayyir said.
Financial revenues generated from increased exports and improved contracts with international companies will be directed toward infrastructure projects in health, education, and transportation, as well as the development of Iraq's human resources, the Minister added.
Target daily oil export volume to Turkey
