Top-level representatives from Iraq and Turkey convened to explore and enhance their collaborative efforts in the vital realm of oil and energy.
Hayan Abdul Ghan, Iraqi Deputy Prime Minister for Energy Affairs and Minister of Oil, held extensive discussions with his Turkish Minister for Energy and Natural Resources, Alparslan Bayraktar, during a consequential meeting on a Tuesday.
The core of these discussions revolved around strategies aimed at deepening the cooperative ties between the two nations in the critical domains of oil and energy. In alignment with the priorities outlined by the Iraqi ministry, the meeting was focused on identifying pathways that could facilitate mutual collaboration within these crucial sectors.
A statement issued by the Iraqi embassy in Ankara, a day ahead of the meeting, elucidated the objectives of the visit. The trip of the Iraqi minister to the Turkish capital was orchestrated with precision to foster productive negotiations, with a strong emphasis on bilateral relations. Notably, a focal point of these discussions was the potential revival of oil exports through the Turkish port of Ceyhan.
It is imperative to highlight that Turkey had previously implemented a suspension on the flow of approximately 450,000 barrels per day (bpd) of Iraqi exports via the northern Iraq-Turkey pipeline. This decision was a direct outcome of an arbitration ruling delivered by the International Chamber of Commerce (ICC) in March, which effectively brought the oil trade to a halt.
The conversations held between Iraq and Turkey, particularly concerning the pivotal matter of oil exports, are poised to reignite economic collaboration and fortify the bond between the two nations. Given the central role of the energy sector in the economies of both countries, these high-level deliberations are anticipated to pave the way for the resumption of oil exports, thus fostering heightened cooperation and economic synergy between Iraq and Turkey.
