The oil minister reveals talks with Iran to facilitate the movement of tankers through the Strait of Hormuz
The oil minister reveals talks with Iran to facilitate the movement of tankers through the Strait of Hormuz
8-3-2026
The Minister of Oil, Bassem Mohammed Khudair, confirmed the existence of an ambitious plan to transport a portion of the southern oil fields through northern pipelines, aiming for export rates exceeding 700,000 barrels per day, in accordance with the Iraqi-Turkish agreement. He also revealed ongoing discussions with Iran regarding the smooth flow of oil tankers through the Strait of Hormuz, with hopes of reaching an understanding in the coming days. Khudair told the official news agency, as reported by Al-Maalomah, that “an important agreement was reached with the Turkish side, signed on August 1st, extending the oil understandings for one year, during which a draft of a long-term framework agreement will be prepared.” He explained that “the agreement aims to ensure the continued export of crude oil from the Kurdistan Region’s fields, in addition to an ambitious plan to transport a portion of the southern oil fields through the pipeline, reaching export rates exceeding 700,000 barrels per day.”
He added that “the economic and political discussions held with the Prime Minister addressed expanding the frameworks of comprehensive economic cooperation and signing several memoranda of understanding,” noting that “the Iraqi delegation also held talks with the Iranian side to discuss the smooth flow of oil tankers through the Strait of Hormuz, with hopes of reaching significant understandings in the coming days that will contribute to protecting and facilitating the passage of shipments and tankers.”
The Minister of Oil pointed out that “the government’s approach relies on building bridges of communication, partnership, and joint investment with all neighboring countries as a fundamental pillar for supporting the national economy,” emphasizing that “the financial revenues generated from increased exports and the development of contracts with international companies will be directed towards building and rehabilitating comprehensive infrastructure in the health, education, and roads sectors, in addition to developing Iraqi human resources.”
almaalomah.me
