Iraqi and Turkish firms are set to commence operations under a renewed agreement to transport crude oil through the Iraq-Turkiye pipeline to the Mediterranean port of Ceyhan.
The development follows high-level diplomatic talks in Ankara aimed at formalizing a comprehensive energy cooperation framework between the two nations.
The restart of flows through the Kirkuk-Ceyhan corridor is a significant development for global supply logistics.
The pipeline serves as a vital export artery for Iraq's northern oil fields, and its operational continuity helps mitigate the risk of supply bottlenecks that have periodically pressured Brent crude prices.
Market participants had been monitoring the negotiations closely, as any prolonged disruption to this route would have tightened available supply in the Mediterranean basin.
This move builds on recent diplomatic efforts, including a senior Iraqi delegation's visit to Ankara to negotiate the extension of the pipeline agreement.