...

Iraq, Saudi Arabia may restore joint oil pipeline operation

Oil&Gas Materials 15 March 2012 13:52 (UTC +04:00)

Azerbaijan, Baku, March 15 / Trend A. Taghiyeva /

The head of the Oil and Gas Commission of the Iraqi Parliament Baha Jamaleddin has been urged to intensify negotiations with Saudi Arabia to restore the work of the pipeline between the two countries. It has not been used after Iraq's invasion in Kuwait in the 1990s, the newspaper Hurra Iraq said today.

Jamaleddin explained this by saying the need to diversify Iraqi oil export is important, especially after Iran's threats to close the Strait of Hormuz, through which about 80 per cent of Iraqi oil is exported.

Commenting on Jamaleddin's appeal, the official representative of the Iraqi Oil Ministry Asym Jihad told the Hurra Iraq newspaper that the country has been negotiating with Saudi Arabia for many years to restore operations on the pipeline.

Jihad also said that even if the pipeline does not work in the near future, Iraq has other ways of oil supply in case of the closure of the Strait of Hormuz.

There is a 626 kilometre oil pipeline between Iraq and Saudi Arabia, built in 1986 by Japanese and Hungarian companies.

Latest

Latest