Iraq plans to export 650,000 barrels via new port
Iraq aims to increase its oil export capacity through alternative routes to the Strait of Hormuz to reach 650,000 barrels per day, as part of a plan to strengthen northern terminals and reduce dependence on the maritime passage that has been halted due to the Iranian conflict. The plan includes boosting capacity via export pipelines connected to Turkey and Syria. This comes amid a decline in Iraq's exports through the strait, which fell to about 10 million barrels in April, compared to 93 million barrels before the conflict. The government is working on constructing new pipelines and expanding oil exports through the ports of Baniyas and Jihan, with the goal of securing alternative export corridors and minimizing the impact of the Hormuz closure on the country's economy.
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