Baghdad starts new oil routes
Iraq is planning to increase its crude oil exports through pipeline routes heading to Turkey and Syria, aiming to surpass one million barrels per day and diversify export outlets. The plan focuses on developing a network of pipelines mainly connecting southern oil fields to the Ceyhan port, as well as constructing a pipeline to transport oil to the Baniyas port in Syria. This would allow Iraq to export oil away from the southern ports and reduce its reliance on sea shipments from Basra ports. The project is estimated to cost around $15 billion and is expected to take approximately four years to complete, with an initial capacity of up to two million barrels per day. These plans are part of Iraq’s effort to increase its oil production from the current approximately 4 million barrels daily to between 8 and 10 million barrels within six years, while also lowering risks associated with dependence on a single export route. Additionally, Iraq has signed a one-year agreement with Turkey permitting the flow of about 750,000 barrels per day through the Iraq-Turkey pipeline. Meanwhile, Baghdad continues to develop its oil infrastructure to meet future demand and minimize fluctuations in exports.
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