One more year for Kirkuk-Ceyhan pipeline, and a new pharma hub for Jeddah

Another year on the line

Iraq, Turkey keep the pipeline open for another year: Turkey and Iraq have signed a one-year transit agreement to keep crude flowing through the Iraq-Turkey Pipeline (Kirkuk-Ceyhan) after their decades-old pact expired last week, Reuters reports. The agreement between Botas, Somo, and Iraq's North Oil Company covers capacity up to 750k bbl / d, far above the current 180-200k bbl / d, while both sides negotiate a broader long-term framework.

ICYMI- Both countries said last year that they would terminate the previous pipeline agreement from 27 July 2026but wanted to replace it with a new framework. The route had been dogged by a USD 1.5 bn arbitration award against Turkey, which halted export out of the Kurdish region of Iraq to Turkey for a while.

Sitco’s Jeddah warehouse breaks ground

Sitco’s Jeddah warehouse moves into construction: Saudi Chemical Company Holding subsidiary Sitco Pharma has awarded the construction and civil work contract for its new Jeddah warehouse to Rafic A. Kreidie Contracting Company for SAR 56.5 mn, according to a Tadawul disclosure.

IN CONTEXT- SITCO previously budgeted SAR 75 mn for the facility, which will be built on 20k sqm of company-owned land and include around 14k sqm of warehouse space and 800 sqm of office, according to a separate Tadawul disclosure. The facility will feature automated storage, cold-chain capabilities, and room for future expansion — financed through Sharia-compliant banks loans.

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