Paul Harrison
The publication stated that, among several oil and gas decisions revealed Saturday night, the cabinet authorized the signing of a memorandum of understanding with Syria to progress plans for an oil pipeline.
Baghdad has consequently reinitiated plans for constructing a new oil pipeline to Syria. Nonetheless, the government failed to outline the construction schedule, its capacity, or funding sources.
The leadership of the national Basra Oil Company has been granted authorization to finalize a memorandum of understanding with the Syrian Ministry of Energy to initiate the pipeline project. The newspaper observes that this initiative will decrease reliance on the pipeline running from Kirkuk to the Turkish port of Ceyhan located on the Mediterranean.
Additionally, a pipeline running from Kirkuk to the Mediterranean port of Baniyas in Syria once functioned, but it has been inactive for many years due to regional conflicts and has endured considerable damage.
Additionally, Baghdad has agreed to finalize a memorandum of understanding with a coalition of ConocoPhillips, TI Capital, and Novaterra to enhance the Akkas oil and gas field located in Anbar Province in western Iraq.
Following the ousting of Syrian President Bashar al-Assad, Iraq and Syria have been engaging in talks about enhanced collaboration in the oil industry. The pipeline's construction will enable Damascus to earn transit fees; this initiative will also result in investment in Syria's infrastructure and tighter economic ties with Iraq.
source: thenationalnews.com
Baghdad has consequently reinitiated plans for constructing a new oil pipeline to Syria. Nonetheless, the government failed to outline the construction schedule, its capacity, or funding sources.
The leadership of the national Basra Oil Company has been granted authorization to finalize a memorandum of understanding with the Syrian Ministry of Energy to initiate the pipeline project. The newspaper observes that this initiative will decrease reliance on the pipeline running from Kirkuk to the Turkish port of Ceyhan located on the Mediterranean.
Additionally, a pipeline running from Kirkuk to the Mediterranean port of Baniyas in Syria once functioned, but it has been inactive for many years due to regional conflicts and has endured considerable damage.
Additionally, Baghdad has agreed to finalize a memorandum of understanding with a coalition of ConocoPhillips, TI Capital, and Novaterra to enhance the Akkas oil and gas field located in Anbar Province in western Iraq.
Following the ousting of Syrian President Bashar al-Assad, Iraq and Syria have been engaging in talks about enhanced collaboration in the oil industry. The pipeline's construction will enable Damascus to earn transit fees; this initiative will also result in investment in Syria's infrastructure and tighter economic ties with Iraq.
source: thenationalnews.com