Turkey and the Iraqi oil

Murjan added that Luzanne agreement has not only confined to offering Turkey the said 10% rate but also states an obligatory item for Turkey to get a share of oil companies revenues and from oil transportation as well as a share from other oil byproducts. Worthy mentioning that the Luzanne agreement which was signed in 1926 and according to which Turkey was afforded 10% of the oil revenues in al-Mousel for 25 years. However, Turkey had given up its share for 500,000 Sterling Pound.