Iraq reveals plans to increase the export outlets for crude oil

| On 2013-03-14

Economic sources expect the price of oil to $ 220 in the event of a crisis in the Gulf region


Report: Osama Kazem Salman

E-righteousness - Baghdad


Iraq revealed aspects of a plan to expand outlets export of crude oil after the intensification of geopolitical tensions in the Middle East region and especially between the United States and Iran and Tehran threat to close the Strait of Hormuz, which would deprive the world of forty percent of the world's oil supplies.

The Iraqi political sources said the cabinet authorized the Minister of Oil Abdul Karim and coffee to sign an agreement with Jordan to build a export oil through the port of Aqaba to accommodate increased oil production expected in the coming years as well as being a solution to the crisis of fuel that suffer Jordan them some time ago.

The Iraqi ambassador in Amman, Jawad Hadi Abbas, said the project will be implemented over a period ranging from 24 to 36 months where it is hoped to start negotiations between Iraq and Jordan on the implementation of the project in the next phase. The ambassador said an Iraqi group foreign companies will implement the project in accordance with technical specifications high as possible to save it from all influences, whether natural or sabotage attempts, through buried pipes at a depth of meters below the earth's surface as well as planting sensors alerted to irregularities have occurred certain can be processed quickly by control within a specified breakers. He pointed out that Jordan will not bear any amounts of the implementation of the project as well as the fact that the project would be handed over to the Iraqi side after twenty years.

Under the project, the Jordan will get the adequacy of crude oil through the pipeline where will provide Iraq Jordanian side one million barrels and crude oil a day and prices Tfezalah less than the market price of international oil by up to eighteen to twenty dollars per barrel as is the case now in addition to that the cost of transfer of a barrel of oil to Jordan will drop to two dollars only after it was fourteen dollars borne by the Jordanian government to transport crude oil via tankers on the land route as being at the present time.

Oil pipeline will run from the province of Basra to modern area in Anbar province and then to the port of Aqaba in southern Jordan and length estimated 1690 km and will carry two and a quarter million barrels per day including one million barrels in line the inside of the Jordanian territory to meet the need of local growing cities in the Kingdom, which currently stands at between 120-150 thousand barrels of oil per day while the remainder will go to export through the port of Aqaba.

Iraq has provided Jordan with 10 thousand barrels of crude oil through the tank and can be lifted to 30 per thousand barrels. This project Arden can do without another source for its oil needs as well as it represents another outlet for Iraq into the world to accommodate the steady increase expected in the coming years in addition to the ongoing evolution of the dramatic events in the region.

Sources artistic confirmed that the two sides can will develop the project in the later stages through the construction of refineries advanced in Jordan, especially in the port of Aqaba to increase the quantities of petroleum products needed by the kingdom this mention of Iraq consider other steps to activate the pipeline last runs of the modern into Syrian territory and Turkish In addition to the approval of the Iraqi government to extend the pipeline giant five thousand kilometers long meters from Iran through Iraqi territory and into Syrian territory and from there to Europe instead of traffic in the Gulf region.

Political sources hinted that Iraq's acceptance of the project comes to the aspirations of the interview studied by Iraq to extend the pipeline to export oil through Iran to the Arabian Sea instead of the Gulf and the problems that may be exposed to the oil transportation route through the Strait of Hormuz.

Talking about problems expected in the Middle East sponsor lift oil prices in the global market, where prices rose TONGS 19% in 2011 also increased from $ 106 to 110 Dolart with views year two thousand and twelve Looking to the future predicted bank imperialist Canadian Trade Rise oil price to $ 225 by the rule of supply and demand with worries about supplies.

Comes this talk at a time announced Iran to the San Foreign Minister Ali Akbar Salehi, the existence hopes breakthroughs crisis between Iran and Western nations six over its nuclear program and the demise of threats and sanctions are being reduced, but that such statements did not have a little reaction rates prices.

Despite fears of experts from the sliding global economy in a financial crisis seconds and thus falling demand in recovery the most important economic poles in the world, especially the United States established the amended experts today their eyes on them for Erghawwa it will be able to avoid slipping into a new financial crisis again and will see positive growth nearly 2 %. In addition to the continued demand for oil from the largest Western economies is expected to remain strong oil demand from the Asian continent growing upward notably India and China, which was the world's largest consumer of oil in the year 2010.

All these equations raised outweigh the opinions tend to continue to increase prices with the increasing demand not to mention the political developments, prices possible to take grants as determined by the features of these developments and reactions resulting puppies.

This comes at a time when the new information confirmed that the oil prices in the coming days will witness a rise slightly backed expectations global Mstqrellasthlak growth and sudden decline of U.S. crude inventories, which kept Brent crude above $ 109 a barrel. That more countries affected in the event of further escalation in the Middle East will be Kuwait, Qatar, which are published their production of oil and gas entirely through the Strait of Hormuz in Saudi Arabia can be maneuvered by converting its exports through the use of existing pipeline from the eastern region, which up to the port of Yanbu and work to raise capacity him and re-activate the pipeline Iraq - Saudi Arabia Card 1650 million barrels per day and rehabilitate line Tapline extending from the east coast of Saudi Arabia to Lebanon on the Mediterranean and which could be transferred 500 thousand barrels per day in the event of his rehabilitation .... This addition to the use of stockpiling strategic In Japan, the use of giant oil tankers as any temporary emergency stocks. The United Arab Emirates has announced earlier plans to start pumping oil exports without passing the Strait of Hormuz through a pipeline extending from Abu Dhabi to Fujairah on the Indian Ocean and the card up to one million eight hundred thousand barrels per day, which represents seventy percent of its total exports to world markets.


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