Turkey and Iraq Extend Kirkuk-Ceyhan Pipeline Contract: Strategy to Bypass the Strait of Hormuz
Turkey and Iraq have extended the contract for the operation of the Kirkuk-Ceyhan oil pipeline for another year 🛢️🇹🇷🇮🇶. This decision guarantees an alternative export route for Iraqi oil amidst risks to shipping in the Strait of Hormuz. The pipeline's potential is up to 750,000 barrels per day, which is critical for the stability of supplies to global markets. ⚖️🚢
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