Iraq, Jordan agree to accelerate carrying out of Basra-Aqaba strategic oil pipeline scheme
Iraq and Jordan have agreed to accelerate carrying out of the Basra-Aqaba Strategic Oil Pipeline Scheme, one of the two countries' largest joint
An illustrative image related to: Iraq, Jordan agree to accelerate carrying out of Basra-Aqaba strategic oil pipeline scheme, highlighting key aspects of the story. | Image source: The Express Tribune
Iraq, Jordan agree to accelerate carrying out of Basra-Aqaba strategic oil pipeline scheme
Iraq and Jordan have agreed to accelerate carrying out of the Basra-Aqaba Strategic Oil Pipeline Scheme, one of the two countries' largest joint energy investments, according to a comment from the Iraqi premier's office.
The accord was reached on Thursday during a session between Iraqi Premier Ali al-Zeydi and a Jordanian executive official group led by Industry, Commerce and Provision Secretary Yarub al-Qudah, who visited Baghdad to discuss the scheme's latest developments.
The two sides discussed expediting carrying out of the pipeline, which is planned to stretch 1,700 kilometers (1,056 miles) and transport up to 2.5 million barrels of oil per day. They also discussed strengthening bilateral collaboration in industry, transport and investment.
Al-Zeydi described Jordan as an important strategic partner for Iraq, while al-Qudah stated Amman fully supports Iraq's economic reform process.
Physical construction of the pipeline began last year. The scheme aims to diversify Iraq's oil export routes, reducing its reliance on Gulf ports while providing Jordan with discounted oil supplies and transit revenues.
The Iraqi Executive approved the accord for the Basra-Aqaba Strategic Oil Pipeline Scheme on January 11, 2022. The pipeline is designed to transport crude oil from Iraq's southern metro of Basra to the Jordanian port of Aqaba on the Red Sea .
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