The Real Iraq-Turkey Energy Story Is Equity In Kirkuk
The 1973 Iraq-Turkey Crude Oil Pipeline Agreement expired on July 27, 2026, marking the end of a 50-year framework. Turkish President Erdogan and Iraqi PM al-Zaidi announced plans for a comprehensive energy cooperation deal. The key development is TPAO's agreement to take a 15% equity stake in BP Energy Company of Kirkuk Limited, a vehicle for redeveloping major northern Iraqi oil fields (Baba, Avanah, Bai Hassan, Jambur, Khabbaz). This gives Turkey a bookable seat alongside BP (43%) and ConocoPhillips (42%) under Iraqi title. The article cautions that the political claim of Iraq supplying 1 million barrels per day to Turkey should be treated skeptically until actual loadings at Ceyhan confirm the volume, distinguishing between political offers, corporate targets, and deliverable capacity.
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