Iraq Erbil AgroFood 2016
 
Friday, September 30, 2016
Directory Directory Subscribe
Login
 

Iraq, Jordan and Egypt revive the $12 billion Basra-Aqaba oil pipeline project

 
 

Please, enter data

Please, enter data

Agencies, 23 March 2016

The Iraqi Oil Minister Adel Abdel Mahdi and Jordan’s Minister of Energy and Mineral Resources, Ibrahim Saif visited Egypt and headed delegations to the Tripartite Meeting of the oil Ministers of Iraq, Egypt and Jordan to complete the discussions about the oil and gas transportation pipeline.

On this occasion, a memorandum of understanding was signed between Iraq and the Egyptian minister of petroleum and minerals, Farooq Al-Mullah, regarding cooperation with Egypt in oil & gas, drilling, refining, pipeline extension, infrastructure and training.

At the same time, Jordan’s Minister of Energy and Mineral Resources, Ibrahim Saif, discussed with his Egyptian and Iraqi counterparts developments regarding the Basra-Aqaba pipeline project that was agreed upon by the three countries in Amman in November 2015. It was announced that the three ministers have signed a MoU to extend the oil pipeline from Basra to Aqaba. Jordan, Egypt and Iraq have affirmed that they are stakeholders in the Basra-Aqaba oil pipeline project, while stressing the need to complete the scheme thanks to its importance to the three Arab nations, Jordanian Minister of Energy and Mineral Resources Ibrahim Saif said.

In a statement after the meeting it was declared that the Jordanian-Iraqi oil pipeline and the parallel gas pipeline, constitute an ambitious project for its role in achieving integration and enhancing energy security between the two countries after moving toward implementing the project when concluding related technical studies.

According to the MoU, Jordan is to benefit from Iraqi crude oil and liquefied gas to meet its needs of oil products and natural gas and generate electricity.

The Iraqi government had approved an additional route for implementing the project, situated near the Saudi border and provided the project with additional features, notably the reduction of the distance of the pipeline, which will carry the crude oil, therefore reducing the project costs.

In statements to Petra following his return from Cairo, Saif said that Iraq is interested in the project because it secures a new path to export oil, while Jordan is interested because the pipeline passes through its territories. Egypt, meanwhile, will benefit from the project through using its refineries to treat the crude oil, the minister added.

Saif also reiterated the importance of keeping momentum of the project.
Agencies
23 March

  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Plans to develop 12 new solar farms in Lebanon
businessnews.com.lb, 29 September 2016

The Lebanese Center for Energy Conservation (LCEC), part of the Ministry of Energy and Water (MoEW), has invited companies to submit proposals to develop solar ...

Read full story
Plans to develop 12 new solar farms in Lebanon
Qatar’s banking sector shows resilience
OBG, 29 September 2016

While the banking and financial services sector in Qatar continues to be a significant source of growth in the country, recently released figures for the first ...

Read full story
Qatar’s banking sector shows resilience
Back to Home Page 2580 --- 385 <><><> 943.....exvideo=0....eximage=0
P 0
BR 16

Iraq Erbil AgroFood 2016

 

 
Future Accessibility & Assistive Technology Dubai
10 - October 2016
Smart Parking KSA
17 - October 2016
Solar O&M and Asset Management MENA
17 - October 2016
3rd Annual Future Landscape & Public Realm Qatar
24 - October 2016
RetrofitTech KSA
24 - October 2016
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Future Landscape UAE 2017

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Erbil International Fair - 10 October - 13 October 2016  
  Iraq Agro-Food - Erbil - 10 October - 13 October 2016  
  Project Iraq - Erbil - 10 October - 13 October 2016  
  Energy Iraq - Erbil - 10 October - 13 October 2016  
  Medicare Iraq - Baghdad - 7 December - 9 December 2016  
IFP Group Events Calendar

 


Notice: Undefined variable: left3 in C:\inetpub\wwwroot\rec2008\ifpinfo\ifpinfo-news.php on line 1545

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Energy Lebanon
Project Lebanon
Qatar
3rd Annual Future Drainage & Stormwater Networks Qatar
3rd Annual Future Landscape & Public Realm Qatar
Heavy Max
Hospitality Qatar
Project Qatar
Qatar StoneTech
Iraq
Energy Iraq - Erbil
Erbil International Fair
Iraq Agro-Food - Erbil
Medicare Iraq - Baghdad
Project Iraq - Erbil
Saudi Arabia
PMV Series at Saudi Build
Saudi Agriculture
Saudi Agrofood
Saudi Build
Saudi Power Sports
Saudi Stone-Tech
Saudi Transport
Riyadh Motor Show
 
 
  IMC
IFP Group 2016 - © All rights reserved