Latest news with #TurkishOfficial
Reuters
2 days ago
- Business
- Reuters
Turkey wants 'new and vibrant' phase for Iraq-Turkey oil pipeline, official says
ANKARA, July 21 (Reuters) - The under-utilisation of an oil pipeline between Iraq and Turkey is unfortunate and Ankara wants a "new and vibrant phase" in the matter to benefit both parties and the region, a senior Turkish official told Reuters on Monday. In a presidential decision published in the Official Gazette earlier on Monday, Ankara said the Turkey-Iraq Crude Oil Pipeline Agreement - agreed by Turkey's government in 1973 and put into effect in 1975 - and all subsequent protocols or memorandums will be halted from July 27, 2026. The official said the pipeline had the potential to become a "highly active and strategic pipeline for the region", and added Turkey had invested heavily in its maintenance, while repeatedly noting its importance for regional projects like the Development Road - a planned trade route involving Turkey and Iraq. "A new and vibrant phase for the Iraq-Turkey Pipeline will benefit both countries and the region as a whole," the person said.
Bloomberg
2 days ago
- Business
- Bloomberg
Turkey Says It Will End Iraq Oil Pipeline Agreement in July 2026
Turkey said it will end an agreement that allows the export of oil from Iraqi Kurdistan through its territory in July next year, according to a decree published in the Official Gazette. Turkey is unhappy with the underutilization of the pipeline under the current deal and sees greater potential benefit for itself and Iraq from a new arrangement, according to a senior Turkish official with direct knowledge of the matter, who asked not to be identified because of the sensitivity of the matter. That suggests Turkish officials will seek to negotiate a new agreement with Baghdad, although Ankara has refrained from explicitly saying that.
