Iraq will build a system of oil pipelines through Syria to the Mediterranean Sea
The Iraqi government has authorized the management of the Basra Oil Company to sign a memorandum of understanding with the Syrian Ministry of Oil for the construction of a new pipeline system. This project will connect Iraq’s oil-producing regions directly to global markets via Syrian ports on the Mediterranean Sea.
At the same time, Baghdad plans to sign a memorandum with a consortium comprising ConocoPhillips, TI Capital, and Novaterra regarding the exploration and development of the Akkas gas field.
The Iraqi Ministry of Oil will also announce a tender for the implementation of the integrated “Kayara” project to expand the country’s production capacity and has approved the drilling of an exploratory well in Kara-Tappi. In addition to energy initiatives, the government has activated a framework agreement with Turkey on water resources, with funding set to begin on September 1.
Bloomberg reports this.
U.S. troops are to fully withdraw from Iraq by September 30. Iraqi Prime Minister Ali al-Zaidi made this statement during a meeting with U.S. President Donald Trump in Washington.
Iraq has suspended operations at its oil terminals following Iran’s attack on tankers.
Iraq is working to restore an abandoned oil pipeline that will allow oil to be transported from the city of Kirkuk directly to the Turkish port of Ceyhan, bypassing the territory of Kurdistan.
