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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    The unknown Iraqi port in Saudi Arabia... 3 reasons preventing its opening

    Rocky
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    • Post n°1

    The unknown Iraqi port in Saudi Arabia... 3 reasons preventing its opening Empty The unknown Iraqi port in Saudi Arabia... 3 reasons preventing its opening

    Post by Rocky Sun 21 Jan 2024, 4:29 am

    The unknown Iraqi port in Saudi Arabia... 3 reasons preventing its opening
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    Baghdad today - Baghdad
    Oil expert Salah Al-Moussawi confirmed today, Sunday (January 21, 2024), that there are three reasons that prevent opening the file of the unknown Iraqi port in Saudi Arabia.
    Al-Moussawi told Baghdad Today, “The events in Bab al-Mandab will not affect the flow of Iraqi crude oil to global markets because 90% of it goes to South and East Asia, and most of what remains goes in directions somewhat far from Bab al-Mandab toward the Suez Canal, but if Any disturbance in the Strait of Hormuz will be a disaster for oil marketing in general.”
    Al-Moussawi added, “Iraq has a huge oil port on the Red Sea with a capacity of 1,600,000 barrels, which Saudi Arabia seized in the 1990s, and the Iraqi governments did not take any action after 2003, despite experts’ assurances that Baghdad could impose at least 100 billion dollars.” As compensation for Riyadh in international courts, but there is no political will and concerns that unfortunately push officials to overlook any steps even though they represent the rights of the Iraqi people.”
    He continued, "The Paris Court imposed on Ankara compensation amounting to one billion and 400 million in favor of Baghdad for exploiting the Iraqi oil pipeline for the period from 2014-2018, and there is another expected fine amounting to $14 billion for the same reasons," pointing out that "Turkey is currently maneuvering to... Push Baghdad to give up any compensation, and is even trying to pressure to obtain compensation due to the cessation of oil exports through its territory, in a way that reflects how Ankara deals with Iraq.
    Al-Moussawi pointed out, “The necessity of diversifying the windows for exporting Iraqi oil and exploiting the opportunities it has, including reviving a line towards Syria, which will not be affected by any future crises, whether in Bab al-Mandab, Hormuz, or elsewhere.”
    Al-Mujaz Port is located on the Red Sea, south of the Saudi port of Yanbu. During the 1980s, it was established by an Iraqi-Saudi agreement to extend a pipeline with a capacity of 1.6 million barrels per day to transport oil from the southern Basra fields towards the Iraqi port of Al-Mujaz, which is located south of the Saudi port of Yanbu on the Red Sea. The export port was established in agreement with Saudi Arabia, and with Iraqi funds, according to an agreement that stipulates that “Riyadh does not have the right to act without returning to Baghdad as it has the right to invest in it.” 
    The Iraqi Ministry of Oil opened Al-Mujaz Port and representatives of Western and local companies contributed to the completion of the project. The export process began in 1988 and at full capacity in 1990. The aim of its establishment was to diversify the sources of Iraqi oil exports. The port stopped working following the outbreak of the Kuwait War and the sanctions imposed on Iraq, as this led to... Pumping through it stopped in the same year that it began operating at full production capacity.
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