Iraq Plans to Triple Pipeline Oil Exports Within Months

Iraq is pursuing a major increase in pipeline-based crude exports as it develops alternative routes to international markets amid ongoing regional supply disruptions.

(Reuters) — Iraq plans to more than triple crude oil exports through pipelines to 770,000 barrels per day from 220,000 bpd within two and a half months, a government statement said on June 2.

The move is part of a broader strategy to expand export routes and reduce reliance on Gulf shipping lanes.

• Iraq exports crude oil through the Turkish Mediterranean port of Ceyhan while exports from the southern route have been curtailed by the closure of the Strait of Hormuz.
• The closure of the strait prompted Baghdad to explore alternative export channels.
• Iraq plans to sign a deal with Syria to transport, store and handle shipments of Basrah Light, Basrah Medium and Basrah Heavy crude through the Mediterranean ports of Baniyas and Tartous.
• Baghdad also intends to open a representative office of the oil ministry to oversee export operations through the route, it said.