Oil Minister Bassem Mohammed Khudair confirmed the existence of an ambitious plan to transport a portion of the southern oil fields via northern pipelines, aiming for export rates exceeding 700,000 barrels per day, in accordance with the Iraqi-Turkish agreement. He also revealed ongoing discussions with Iran to facilitate the smooth passage of oil tankers through the Strait of Hormuz, with hopes of reaching an understanding in the coming days.
Khudair stated, "An important agreement was reached with the Turkish side, signed on August 1st, extending the oil understandings for one year. During this period, a draft of a long-term framework agreement will be prepared." He explained that "the agreement aims to ensure the continued export of crude oil from the Kurdistan Region's fields, in addition to the ambitious plan to transport a portion of the southern oil fields via pipeline, reaching export rates exceeding 700,000 barrels per day." He added that "the economic and political talks that took place with the Prime Minister addressed expanding the frameworks of comprehensive economic cooperation and signing several memoranda of understanding," noting that "the Iraqi delegation also held dialogues and discussions with the Iranian side to discuss the smooth movement of oil tankers through the Strait of Hormuz, amid aspirations to reach major understandings in the coming days that will contribute to protecting and facilitating the passage of shipments and tankers."
Oil Minister: Talks with Iran to facilitate tanker traffic through the Strait of Hormuz; we look forward to understandings soon
