🔺Feasibility studies begin for construction of an oil pipeline to replace the Strait of Hormuz in Iraq

🔺Feasibility studies begin for construction of an oil pipeline to replace the Strait of Hormuz in Iraq

▪Iraq’s Ministry of Oil said it has started feasibility studies for building an oil pipeline to replace the Strait of Hormuz on the soil of this country, heading to Turkey and Syria.

▪Since the Islamic Republic’s disruption of the Strait of Hormuz, Iraq’s oil exports have fallen by 67% compared with the same period last year. Although over the past few months the trend has been upward, they are currently at three million barrels per day—two-thirds of which still pass through the Strait of Hormuz with help from the United States and the fleets of the UAE.

▪Iraq plans to build an oil pipeline with a capacity to transport 2 million barrels per day from the Basra oil region in the Persian Gulf to Haditha. From there, separate pipelines will also be constructed to the Port of Jihān in Turkey and the Port of Banias in Syria.