Iraq explores major oil export pipeline projects with US and Qatar firms

Iraq’s government has approved Basra Oil Company to sign preliminary agreements and confidentiality pacts with a consortium of international firms, including American companies Capital TI and Chevron alongside Qatar’s UCC, to evaluate strategic oil export pipeline projects. The move was announced in an official government statement on Sunday and represents a significant step in Iraq’s efforts to expand and modernise its petroleum export infrastructure. The consortium will examine proposals for new pipeline systems designed to increase Iraq’s capacity to transport crude oil to international markets, a crucial development for the country’s oil sector and economy. Iraq, one of the world’s largest proven oil reserves holders, has long sought to upgrade its export capabilities and reduce its dependency on existing infrastructure. The involvement of major American and Gulf state partners underscores the geopolitical importance of Iraq’s energy sector and reflects broader regional cooperation initiatives in the Middle East’s oil and gas landscape.

Source: Walla News — Original article in Hebrew.