Newsroom
Short, verified market news summaries; every item names its source and publication date.
Iraq and Turkey Near Deal to Extend Kirkuk-Ceyhan Oil Pipeline Exports
Turkish Energy Minister Alparslan Bayraktar visited Baghdad on Thursday, July 9, 2026, to finalize a roughly 12-month extension of crude exports through the 970-kilometer Kirkuk-Ceyhan pipeline; the current agreement expires on July 16. According to The National (July 9, 2026), citing Reuters, the deal is expected to be signed "in the coming days." Iraqi oil output has fallen from 4.3 million barrels a day to 1.4 million (as of May), and flows through the Ceyhan terminal have dropped from a pre-war 3.5 million barrels a day to about 200,000. With most of Iraq's southern exports through the Strait of Hormuz shut off, Ceyhan has become one of Iraq's few working export routes.
The National · Jul 10, 2026
Iran's 25-Year Gas Export Contract With Turkey Expires This Month as Renewal Talks Have Not Begun
Iran's 25-year gas export contract with Turkey, which carries up to 9.6 billion cubic meters annually via pipeline, is set to expire this month (July 2026). According to a Forbes report published June 29, 2026, Turkish Energy Minister Alparslan Bayraktar confirmed that formal negotiations on an extension have not yet begun, though he said "according to our forecast, we might need this gas pipeline or the gas flow from Iran for the security of supply of Turkey." The report noted that since UN sanctions snapped back in September 2025, Turkish banks have grown more cautious about payments to the National Iranian Gas Company, since the US oil sanctions waiver does not cover natural gas.
Forbes · Jul 10, 2026