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Economist: The Basra-Aqaba oil pipeline will cost Iraq a sustainable loss of $4.9 billion annually
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[rtl]Baghdad / NINA / - The specialist in economic crisis management, Ali Jabbar Al-Fariji, confirmed that Iraq pays the value of the Iraqi crude oil pipeline project from Basra - Aqaba and loses a third of its ownership to Jordan, adding to it a sustainable loss of $4.9 billion annually.
Al-Fraiji said in a statement to the National Iraqi News Agency / NINA / that "Iraq needs this diversity of oil export channels and outlets by extending oil pipelines with Jordan, Saudi Arabia, Iran, Turkey, Syria...etc, but this economic vision must be governed by a number of factors, including the size of The benefit from each pipeline, will it be useful as revenues and revenues for the state treasury in the long run, and is it possible to ensure balanced political and economic relations with these countries, among other important factors.”
He pointed out that "an Iraqi oil pipeline will extend from the Basra fields along the Saudi border to Aqaba, it will be built according to the Build, Operate and Transfer (BOT) system for a period of 15-20 years, and then the pipeline will be owned by the two countries," noting that the idea of oil linkage Between Basra-Aqaba is not a product of the current circumstances and changes, but rather an old project that Iraq resorted to during the Iraq-Iran war after its oil facilities were bombed and destroyed.”
He added: In 2013, Iraq signed an agreement with the Jordanian side, an agreement for a project to extend the Iraqi crude oil pipeline from Basra to the ports of Aqaba on the outskirts of the Red Sea coast, at a cost of about $18 billion, and a length of 1,700 km with nine giant pumping stations, six of which are inside Iraq and three in Jordan, with an average export capacity of one million barrels per day, approximately 150 thousand barrels, of which will go to equip the Zarqa plant in Jordan, and the rest of it will go for export, with the possibility of adding another natural gas conveyor line with a capacity of 100,000 cubic meters as an initial stage.
The specialist indicated that "such strategic projects need international guarantees for their continuity and are not subject to the turbulent political mood in the region, and the rates of transportation fees for this quantity will be subject to a bill that Jordan will receive for its price, which is much more expensive than the bill for transporting Iraqi oil through Basra directly, or even through a port." Cihan, and this is a loss, and the oil transportation tax will not be affected by the rates of oil prices, down or up.”
6 million dollars per day and an average annual revenue of approximately 4.9 billion dollars annually, Iraq’s loss from reducing the price of oil to Jordan, and this is considered a continuous (sustainable) loss in addition to the maintenance and extinction bill that must be calculated for a project of this size (which Iraq will bear). /finished8[/rtl]
Al-Fraiji said in a statement to the National Iraqi News Agency / NINA / that "Iraq needs this diversity of oil export channels and outlets by extending oil pipelines with Jordan, Saudi Arabia, Iran, Turkey, Syria...etc, but this economic vision must be governed by a number of factors, including the size of The benefit from each pipeline, will it be useful as revenues and revenues for the state treasury in the long run, and is it possible to ensure balanced political and economic relations with these countries, among other important factors.”
He pointed out that "an Iraqi oil pipeline will extend from the Basra fields along the Saudi border to Aqaba, it will be built according to the Build, Operate and Transfer (BOT) system for a period of 15-20 years, and then the pipeline will be owned by the two countries," noting that the idea of oil linkage Between Basra-Aqaba is not a product of the current circumstances and changes, but rather an old project that Iraq resorted to during the Iraq-Iran war after its oil facilities were bombed and destroyed.”
He added: In 2013, Iraq signed an agreement with the Jordanian side, an agreement for a project to extend the Iraqi crude oil pipeline from Basra to the ports of Aqaba on the outskirts of the Red Sea coast, at a cost of about $18 billion, and a length of 1,700 km with nine giant pumping stations, six of which are inside Iraq and three in Jordan, with an average export capacity of one million barrels per day, approximately 150 thousand barrels, of which will go to equip the Zarqa plant in Jordan, and the rest of it will go for export, with the possibility of adding another natural gas conveyor line with a capacity of 100,000 cubic meters as an initial stage.
The specialist indicated that "such strategic projects need international guarantees for their continuity and are not subject to the turbulent political mood in the region, and the rates of transportation fees for this quantity will be subject to a bill that Jordan will receive for its price, which is much more expensive than the bill for transporting Iraqi oil through Basra directly, or even through a port." Cihan, and this is a loss, and the oil transportation tax will not be affected by the rates of oil prices, down or up.”
6 million dollars per day and an average annual revenue of approximately 4.9 billion dollars annually, Iraq’s loss from reducing the price of oil to Jordan, and this is considered a continuous (sustainable) loss in addition to the maintenance and extinction bill that must be calculated for a project of this size (which Iraq will bear). /finished8[/rtl]
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