Arab Today, arab today iraq acts to counter iran oil threat
Last Updated : GMT 05:34:54
Arab Today, arab today
Arab Today, arab today

Iraq acts to counter Iran oil threat

Arab Today, arab today

Arab Today, arab today Iraq acts to counter Iran oil threat

Tehran - Arabstoday

Iraq\'s cabinet has approved a contingency plan to increase the country\'s options for exporting oil after Iran threatened to close the Strait of Hormuz. China\'s ministry of transport and the National Development Reform Commission had held special meetings on ways to help shipping companies secure insurance, including nominating an insurer to cover oil shipments from Iran once sanctions took effect. AP Photo / Eugene Hoshiko The bulk of Iraq\'s crude reaches the world market via the Basra export hub in the south of the country, where oil is loaded on to tankers and shipped though the strait. But Iraq also has a pipeline running from Kirkuk in the north through Syria to the port of Ceyhan on the Turkish Mediterranean coast that could be developed. \"Short and mid-term plans will be through boosting crude pumping and upgrading export capacity via Ceyhan port in Turkey. \"Also to increase the number of trucks that are shipping crude,\" Ali Al Dabbagh, a government spokesman, said on Sunday. Angered by Iran\'s refusal to abandon its nuclear programme, the United States and the European Union have hit Tehran with a new round of sanctions aimed at choking the country\'s oil trade, along with an embargo on Iranian crude sold into Europe. Tehran responded with threats to block the strait, through which 30 per cent of global crude is transported. Iraq, the third-largest Opec producer, last month sent about 1.7 million barrels per day (bpd) of its approximately 2 million bpd export through Basra. The southern oilfields, which produce the bulk of the country\'s crude, would be connected to the existing Ceyhan pipeline under the contingency plan. To this effect, a pipeline that connected north and south before its destruction in the first Iraq war is being rebuilt. \"The oil ministry suggested accelerating work to complete building the north strategic pipeline and connect it to the Kirkuk-Ceyhan pipeline to export oil from Basra via Ceyhan port,\" Mr Dabbagh said. A third of the 680-kilometre pipeline has already been completed, and the structure will be operational by next year, said a spokesman for the oil ministry. The government is also considering resurrecting a pipeline connecting Iraq with Syria, and opening talks with Saudi Arabia to ship crude via the Red Sea port of Yanbu. This month, the first of a series of offshore terminals near Basra became operational, boosting Iraq\'s export capacity in the south to 2.2 million bpd. Also this month, Baghdad announced that Iraq\'s crude production had reached 3 million bpd. Iraq is not the only country looking to bypass the strait. The Abu Dhabi Crude Oil Pipeline, designed to deliver the emirate\'s onshore crude production to the emerging export terminal in Fujairah, is scheduled to become operational by June, Mohammed Al Hamili, the UAE Minister of Energy and the country\'s Opec governor, said in January. The pipeline, which is owned by International Petroleum Investment Company, was originally scheduled to come into service at the beginning of the year.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq acts to counter iran oil threat Arab Today, arab today iraq acts to counter iran oil threat

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday