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    Iraq And Jordan In Talks For Low Cost Basra Aqaba Oil Pipeline

    November 9, 2021
    oil and gas

    Iraq and Jordan are in talks for the development of a low-cost oil pipeline between Basra and Aqaba as Iraq seeks routes to sell its crude to energy-hungry nations.

    Talks are being held between Iraq and Jordan to develop a low-cost oil pipeline connecting Barsa and Aqaba, according to the oil ministry. The negotiations take place at a time when Iraq is seeking routes to sell its crude oil to energy-hungry nations. For at least a decade, the two countries have held similar talks.

    Technical talks for the construction of a pipeline at a cost of less than $9 billion have already begun, according to the oil ministry's statement.

    The majority of Iraq's crude oil has been exported from the Southern oil terminal in the Persian Gulf, where energy flows via the Strait of Hormuz, a critical checkpoint that has frequently been disrupted in recent years.

    Since its inception in 2014, the multibillion-dollar pipeline project has been inactive for years due to financial challenges and security concerns and of these is the series of attacks on oil tankers in the Strait of Hormuz.

    The project will feature offshore terminals, storage tanks, and a pump station, according to a statement released by the oil ministry in 2019.

    rebuildingiraq

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