Iraq is building a new oil pipeline to expand its export routes — Reuters
The Iraqi government has announced the start of construction on an oil pipeline that will connect Basra with Haditha. This decision was prompted by Iran’s blockade of the Strait of Hormuz.
This was reported by Reuters.
The 700-kilometer pipeline will transport crude oil via several routes, including through Baniyas in Syria, Ceyhan in Turkey, and Aqaba in Jordan, and will supply refineries located along the route.
Its capacity is expected to reach about 2.5 million barrels per day, and the total cost of the project is estimated at approximately $1.5 billion.
Prime Minister Mohammed Shia al-Sudani held a meeting on the next steps for implementing the Basra–Haditha oil pipeline project, which was approved in 2024. He called it a “proactive step” aimed at addressing the current regional situation and preventing potential disruptions to existing export routes.
Crude oil exports via the Kirkuk–Ceyhan pipeline resumed in March after Baghdad and the Kurdistan Regional Government reached an agreement to resume shipments.
In addition, Baghdad is working to restore a neglected pipeline that will allow oil to be transported directly to the Turkish port of Ceyhan, bypassing the territory of Kurdistan.
As a reminder, in April, global oil prices fluctuated constantly amid a lack of progress in negotiations between Washington and Tehran. The situation in the Strait of Hormuz, which continues to be considered unstable, remains an additional source of tension.
Global oil prices stabilizedfollowing Trump’s statements about a ceasefire — Reuters.
