Turkish media: Erdogan ends 52-year Iraq-Turkey oil agreement
Reports indicated that President Erdogan officially signed a decision to end the crude oil pipeline agreement, originally signed between Turkey and Iraq in 1973. The decision was published in the official gazette, bearing President Erdogan's personal signature. It stipulates the official termination of the agreement effective July 27, 2026.
According to the reports, the decision was published in the Turkish Official Gazette, issue (10113). It also states that all protocols and additional documents linked to this historic agreement will cease to be valid. The agreement, signed over five decades ago, aimed to ensure the export of crude oil from Iraq to Turkey's Ceyhan port. It underwent several amendments over the years, with the last extension in 2010 for an additional 15 years, a period that will naturally conclude next year.
This termination decision includes all associated protocols and additional documents, posing new options for the future of Iraqi oil exports via Turkish territory. This could potentially redraw the economic relationship between Baghdad and Ankara. The Iraq-Turkey pipeline has been a strategic artery for exporting Iraqi oil to global markets and a central point in the economic ties between the two nations, especially amidst recent tensions related to legal disputes between Baghdad and Erbil, and Ankara's use of the pipeline to export northern region's oil despite the Iraqi government's objections.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Iraqi News
3 hours ago
- Iraqi News
PowerChina to build $4 billion seawater desalination plant in Iraq
Baghdad ( – Iraqi officials revealed on Thursday that PowerChina has secured a $4 billion deal to develop Iraq's first massive seawater desalination plant in the southern province of Basra. The new desalination plant will be constructed in collaboration with an Iraqi business, according to Reuters. The Iraqi Prime Minister, Mohammed Shia al-Sudani, launched the project, which will have a daily capacity of one million cubic meters and is expected to begin commercial activities in June 2028. PowerChina is a civil engineering construction company based in Beijing. The company works on infrastructure, energy, and hydropower projects all over the world. The project is part of the Iraqi government's attempts to alleviate chronic water shortages in the southern part of the country. The initiative additionally involves the development of a 300-megawatt power plant to provide electricity to the new desalination plant. The Iraqi government revealed earlier in July that it is preparing to construct four new desalination plants in Basra as part of a strategy to enhance non-conventional water supplies. The plan involves the construction of the Shatt al-Arab desalination plant with a capacity of 5,000 cubic meters per hour, the Al-Faw and Al-Siba desalination plants with a capacity of 3,000 cubic meters per hour, the Abu Flous desalination plant with a capacity of 3,000 cubic meters per hour, and the Safwan desalination plant with a capacity of 1,000 cubic meters per hour. According to the Prime Minister's Office (PMO), the Iraqi government has also declared plans to construct wastewater treatment plants, notably in the southern provinces.
Iraqi News
3 hours ago
- Iraqi News
Iraq Stock Exchange trades over 7 billion dinars this week
Baghdad ( – The Iraq Stock Exchange (ISX) announced that shares exceeding 7 billion Iraqi Dinars were traded across five trading sessions since the beginning of this week, up to today, Thursday (July 24, 2025). According to the market indicators, the total number of shares traded this week surpassed 3 billion, with a financial value exceeding 7 billion Dinars. These transactions were executed through 4,493 buy and sell contracts on the shares of companies listed on the exchange. The ISX60 trading index closed at 988.37 points for the first session of the week and finished the week at 990.05 points, marking an increase of 0.17% from its opening close. Similarly, the ISX15 trading index opened the week at 1120.15 points and closed at 1138.27 points by the end of the week, achieving a 1.59% increase from its opening close.
Iraqi News
3 hours ago
- Iraqi News
Iraq modernizes Dora thermal power plant
Baghdad ( – The Iraqi Prime Minister, Mohammed Shia al-Sudani, initiated on Monday an important renovation in the Dora thermal power plant in the Iraqi capital, Baghdad. The upgrade includes renovating two existing thermal units, each with a capacity of 160 megawatts, and installing two new units, each with a capacity of 160, bringing a total of 640 megawatts to the grid, according to a statement released by the Prime Minister's Office (PMO). During his speech at the inaugural event, al-Sudani emphasized the facility's strategic value because of its location in central Baghdad and capacity to use output from the neighboring Dora Refinery while adhering to strict environmental requirements. Al-Sudani underlined the government's continuous efforts to ensure fuel supply to all power plants and achieve energy independence. The Iraqi prime minister illustrated that Iraq will become self-sufficient in gas supplies for all power plants by the end of 2027. In February, the Iraqi cabinet approved the Ministry of Electricity's $480 million Engineering, Procurement, and Construction (EPC) agreement to develop the Dora power plant.
