Iraq turns to Jordan and Syria for new oil export routes – Shafaq News

Shafaq News- Baghdad

Iraq is moving toward Syria and
Jordan as potential crude export outlets after Turkiye, as Baghdad seeks to
diversify its routes to international markets, parliamentary Oil Committee
member Zainab Al-Khazraji told Shafaq News on Monday.

Iraq, OPEC’s second-largest oil
producer, relies on crude exports for about 90% of federal revenue, leaving the
country particularly exposed to disruptions in the Strait of Hormuz, a waterway that normally
carries roughly one-fifth of global oil supplies. In late March, economic
expert Nabil Al-Marsoumi estimated that the country had cut production by about
2.9 million barrels per day, the largest reduction among OPEC members.

Read more: Iraq’s oil revenues under US financial guard 23 years after invasion

Maritime traffic through the strait
remains sharply restricted following its closure since February 28. Only seven
vessels crossed in the past 24 hours —five inbound and two outbound— with six
visible through the Automatic Identification System (AIS) and one operating
without an AIS signal, according to maritime intelligence firm Windward.

Read more: No exit but Hormuz: Iraq’s economic vulnerability
exposed

Against that backdrop, the Oil
Ministry earlier today unveiled plans for a new pipeline system along two
routes, one reaching Fishkhabur on the Turkish border and another extending to
Baniyas on Syria’s Mediterranean coast, as part of efforts to reduce reliance
on Hormuz. A government source previously told Shafaq News that an Iraqi
delegation would visit Iran for talks on energy supplies and securing passage
for tankers carrying Iraqi crude through the waterway.