Iraq has revived an overland oil export route through Syria to bypass disruptions in the Strait of Hormuz caused by the Iran war. Qatari energy group UCC Holding has been transporting 120,000-150,000 barrels per day of Iraqi crude by tanker trucks from southern Iraq to Syrias Mediterranean port of Baniyas since October 26.
Iraq has reached an understanding with the United States to allow its oil exports through the Strait of Hormuz, Foreign Minister Fuad Hussein said, according to The Jerusalem Post and gCaptain. The proposed route runs through a shipping lane near Oman. The Jerusalem Post and India Times reported that Hussein put Iraq’s losses from the Iran war and oil export disruptions at $60 billion. India Times said exports recovered to 3.5 million barrels per day in October; the reports do not specify when the new arrangement takes effect.
Headlines via GDELT Project, linked to each publisher · Photos and share text belong to their publishers, are loaded from their sites and are credited and linked. All data sources.
