Iraq Approves Mechanism for Crude Export Amid Pipeline Plans
Iraq has approved a three-month mechanism to export crude oil through local and international firms, while also considering a long-term plan to build a $15 billion pipeline to Syria. This pipeline project, estimated to take four years, aims to bypass the Strait of Hormuz for oil exports.
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Iraq approves three month mechanism to export crude via local, international firms
Iraq is seeking to diversify its oil export channels and maintain flexibility in marketing its crude amid the Iran war and the closure of the Strait of Hormuz.
Read full article →Iraq-Syria Pipeline To 'Bypass' Hormuz Likely To Take Four Years, $15BN To Build
Iraq-Syria Pipeline To 'Bypass' Hormuz Likely To Take Four Years, $15BN To Build Via The Cradle Iraq's plan to build a pipeline to export oil through Syria and partially bypass the Strait of Hormuz will likely take four years to complete and cost $15 billion, Reuters reported on Monday. Iraq urgently seeks new outlets for its oil exports, which have plummeted since Iran closed the Strait of Hormuz in response to the US-Israel war on the Islamic Republic that started in February...
By Tyler Durden
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