Baghdad – INA
Iraq’s Ministry of Oil confirmed on Monday that it is moving forward with its plan to diversify crude oil export routes, noting that the proposed pipeline to Baniyas is among the projects currently under technical review.
Ministry spokesperson Salim Al-Rikabi told the Iraqi News Agency (INA) that the Ministry continues to implement its strategy to diversify export outlets and enhance the flexibility of Iraqi crude oil exports, adding that the proposed Baniyas-bound pipeline is one of the projects under study.
He added that the Council of Ministers, during its most recent session, approved the signing of a preliminary agreement of principles and a confidentiality agreement with a U.S.-Qatari consortium to prepare the technical studies and engineering designs for the project.
Al-Rikabi stressed that the agreement does not impose any financial or contractual obligations on the Ministry of Oil, explaining that it is limited to the project’s technical study and planning phase.
