Iraqi PM Reviews Strategic Oil Pipeline Projects to Diversify Export Routes

Iraqi PM's Media Office

Iraqi PM Ali al-Zaidi's meeting with Iraqi ministers.

Iraqi Prime Minister Ali al-Zaidi chaired a joint meeting on Saturday with the Minister of Oil, senior ministry officials and representatives of companies involved in implementing the strategic Basra–Haditha–Fishkhabur and Haditha–Baniyas oil pipeline projects.

During the meeting, al-Zaidi reviewed the technical and economic details of the projects, as well as their long-term implications for Iraq’s development and oil export routes through the two pipelines.

The Prime Minister stressed the strategic importance of developing crude oil export pipelines, saying they would help diversify Iraq’s export routes and increase its oil-export capacity.

He added that the projects would serve Iraq’s economic and development interests both now and in the future.

Iraq, OPEC’s second-largest oil producer, relies on crude exports for around 90% of federal revenues, leaving its finances highly vulnerable to disruptions in the Strait of Hormuz, through which roughly one-fifth of global oil supplies normally pass.

Oil Minister Basim Mohammed Khudair Al-Abadi said Iraq exported around 49 million barrels of crude in July, while daily shipments have averaged approximately 2 million barrels per day since the beginning of August, the highest level recorded since the start of the regional crisis.



PUKMEDIA