Turkey, Iraq set to renew agreement on key oil pipeline

Energy and Natural Resources Minister Taner Yildiz yesterday said Turkey and Iraq are set to renew an agreement on Kirkuk-Yumurtalik crude oil pipeline, which transports Iraqi oil to the world markets via Turkey. Reportedly the agreement couldn't be signed due to the busy agenda of related officials from the two countries although preparations had been completed last month. "Kirkuk-Yumurtalik is an important pipeline that has served both countries for a long time," Yildiz said, adding that the pipeline would also help Iraq's normalization.