A consortium of China Petroleum Pipeline (CPP) and private company Mass Global is set to build a $18 billion export pipeline from Basra to the Jordanian Red-Sea port of Aqaba, according to a report.
"The two companies will submit their investment to the oil ministry in March," Adel Abdel Mahdi, Iraqi Oil Minister, was quoted as saying in the Iraq-Business News report.
The firms plan to export one million barrels per day of Iraqi crude to Jordan, 150,000 bpd of which will Jordan's Zarqa's oil refinery, it said.
The pipeline will run through Anbar province, most of which is controlled by the Islamic State militants, it added.
Iraq Business News
13 February
CPP consortium to build $18 billion Iraq-Jordan pipeline
Iraq Business News
The resource of credible, industry-specific updates