Warnings and fears about the Basra-Oqba project: Its goal is normalization with Israel
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Baghdad today - Baghdad
Today, Thursday (June 6, 2024), oil expert Hamza Al-Jawahiri warned of the danger of implementing the Basra-Oqaba oil pipeline project.
Al-Jawahiri said in an interview with “Baghdad Today” that “the Basra-Aqaba project aims to drag Iraq towards normalization with the Zionist entity, and this project has no economic or financial benefits for Iraq at all, but rather it contains great harms and dangers.”
He added, "The strange thing is that this project was included in the current year's budget, and this means that Iraq will be the one paying the costs of this large project, but so far the duration of its completion or its financial cost has not been revealed, and how the government will save that money in light of the financial deficit."
The Iraqi Ministry of Oil announced, in April 2022, that the cost of the Basra-Aqaba pipeline amounts to $8.5 billion, most of which falls on the company that will invest it. She also noted that "the construction of the line has received the support of all successive governments in Iraq since 2012, and that its designs have been completed since 2015."
The Ministry confirmed that the project aims to export one million barrels of Iraqi crude oil towards the Jordanian port of Aqaba on the Red Sea, in an attempt to diversify Iraq’s current export outlets, other than the ports of Basra on the Gulf waters, and the Iraqi pipeline connecting to the Turkish port of Ceyhan.
The project includes extending a pipeline with a length of 1,665 kilometers, from the Basra fields in the far south of Iraq to the Jordanian port of Aqaba, with an initial export capacity of one million barrels per day. Iraq also grants the Jordanian side the right to purchase 150,000 barrels per day at a reduced price compared to international oil prices.
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