Baghdad and Ankara have agreed on a one-year extension to the Iraq-Turkey Pipeline (ITP) treaty ahead of its expiry on 27 July. The interim arrangement will allow Iraqi crude oil exports to Turkey’s port of Ceyhan to continue while the two sides negotiate terms of an expanded treaty that would cover oil, gas and electricity flows.
“We have brought a short-term agreement, covering the next 12 months, to its final stage…we aim to sign it and share it with the public in the coming days. Oil flow from Iraq to Ceyhan will continue,” Turkish energy minister Alparslan Bayraktar said in Baghdad on 9 July. (CONTINUED - 218 WORDS)
