Iraq is discussing with Egypt and Jordan new points of sale for oil exports away from the Strait of Hormuz. The discussions include access to the Red Sea and the Mediterranean Sea on routes linked to the "Basra-Hadith" pipeline project, without specifying a timetable for implementation. The proposed cooperation includes the establishment of oil storage depots and refining and petrochemical projects, in addition to Egyptian initiatives to produce sustainable aviation fuel. At the same time, Iraq is considering the development of two export routes through Syria and Turkey with a total target planning capacity of two million barrels per day. The plans aim to reduce dependence on Hormuz, after navigation disturbances affected exports and oil revenues, on which the Iraqi budget depends, by about 90%. Details:

Iraq is discussing with Egypt and Jordan new points of sale for oil exports away from the Strait of Hormuz. The discussions include access to the Red Sea and the Mediterranean Sea on routes linked to the "Basra-Hadith" pipeline project, without specifying a timetable for implementation. The proposed cooperation includes the establishment of oil storage depots and refining and petrochemical projects, in addition to Egyptian initiatives to produce sustainable aviation fuel. At the same time, Iraq is considering the development of two export routes through Syria and Turkey with a total target planning capacity of two million barrels per day. The plans aim to reduce dependence on Hormuz, after navigation disturbances affected exports and oil revenues, on which the Iraqi budget depends, by about 90%. Details: