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Source: Abadi and the meeting discussed the extension of the oil pipeline from Basra to Aqaba
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Economy News _ Baghdad Jordanian Prime Minister Hani al-Mulqi discussed with his Iraqi counterpart Haider al-Abadi the extension of the oil pipeline from Basra to Aqaba and lists of goods that will be exempted from customs, official sources said. On January 9, 2013, Jordan and Iraq signed a framework agreement for the construction of a 1700 km pipeline to transport Iraqi crude oil from Basra to the export ports of Aqaba, at a cost of about $ 18 billion and one million barrels per day. The pipeline is supposed to transport crude oil from the giant Rumaila field in Basra (545 km south of Baghdad) to export ports in the port of Aqaba (325 km south of Amman). Iraq, which has the world's third largest oil reserves of 143 billion barrels after Saudi Arabia and Iran, hopes the construction of the pipeline will boost its oil exports and diversify its competitors. Jordan, which imports 98 percent of its energy needs, hopes the pipeline will meet its crude oil needs of around 100,000 bpd and get 100 million cubic feet of natural gas per day. The source added that "Al-Mulqi and Abadi also discussed lists of goods that will be exempted from customs duties imposed by Iraq on imports by 30 percent, which the Jordanian side completed preparation for the discussion with the Iraqi technical committees and adoption and start work on the resolution soon." [You must be registered and logged in to see this link.] |
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