🔺A Narrow-Horizon Alternative to the Strait of Hormuz; Revival of the Iraq–Syria Oil Pipeline

▪The signing of the Iraq–Syria oil pipeline revival by the heads of the two countries’ oil companies in Washington has opened up a fresh outlook for diversifying oil export routes and replacing the Strait of Hormuz.

▪This pipeline, which runs from Kirkuk in Iraq to the Syrian port of Baniyas, was damaged and shut down in 2003 during the course of the U.S. military attack on Iraq.

▪The point here is that the CEO of the Basra Oil Company has signed the memorandum for the revival of this pipeline; a company that accounts for the lion’s share of Iraq’s oil production.

▪Overall, launching this large project in partnership with American companies could make it possible to export 2 million barrels of Iraqi oil per day while bypassing the Strait of Hormuz.