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 The tripartite summit will discuss the extension of the pipeline and export through Aqaba DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

The tripartite summit will discuss the extension of the pipeline and export through Aqaba

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 The tripartite summit will discuss the extension of the pipeline and export through Aqaba Empty The tripartite summit will discuss the extension of the pipeline and export through Aqaba

Post by claud39 on Sun Mar 24, 2019 7:29 am


 The tripartite summit will discuss the extension of the pipeline and export through Aqaba


 The tripartite summit will discuss the extension of the pipeline and export through Aqaba 4483

Economy News Baghdad

A number of government officials announced that the oil pipeline currently under way linking Iraq and Jordan will be extended to Egypt to export Iraqi oil to the African continent, stressing that the tripartite summit between Prime Minister Adel Abdul Mahdi, King Abdullah II of Jordan and Egyptian President Abdul Fethi al-Sisi, discusses the extension of the oil pipeline and export through Aqaba
Foreign Ministry spokesman Ahmad al-Sahaf said in a statement to the newspaper "Al-Mada" and read by "Economy News" in the top of the files that are put on the table at the tripartite summit to support economic cooperation between Iraq, Egypt and Jordan.
"The files that will be presented in this visit come in the context of the government program that works and focuses on reconstruction and investment in all of Iraq."
"Egypt and Jordan have a significant role in the Arab, regional and international region, which requires Iraq to build strong bilateral relations between these two countries," said Fratt al-Tamimi, a member of the Foreign Relations Committee. "The tripartite summit is important for Iraq at this stage."
Egyptian President Abdel-Fattah al-Sisi said in a joint press conference with Adel Abdul-Mahdi that he discussed with Abdul Mahdi the strengthening of mechanisms of joint Arab action in facing the current crises and challenges in the region, maintaining stability and promoting the development, economic and social conditions in the Arab world.
For his part, Prime Minister Adel Abdul Mahdi, expressed his hope for the development of relations between the two countries for the better, stressing that he is waiting for the visit of Egyptian President Abdel Fattah al-Sisi to Iraq.
Tamimi said in a statement that "Egypt is the idea of ​​holding a tripartite summit of Iraq, Egypt and Jordan in Cairo to strengthen economic relations and fight and fight terrorism and extremism as well as political aspects to enhance the continuity of Iraq with its Arab environment and work to strengthen it more."
In February, the Iraqi and Jordanian governments signed 14 economic agreements between the two countries in the presence of Prime Minister Adel Abdul Mahdi and his counterpart Omar al-Razzaz in a border area between the Jordanian Al-Karama crossing and Trebil.
The two sides agreed that studies should be started to extend the Iraqi-Jordanian pipeline, which runs from Basra through Haditha and then to the port of Aqaba, to enable Iraq to diversify its oil export outlets.
The agreement also provides Iraq with 10 thousand barrels per day of Kirkuk oil.
On November 15, 2015, the oil and energy ministries of Iraq and Jordan signed a memorandum of understanding for cooperation in the field of oil and natural gas. On April 2, 2017, they agreed to establish the $ 5.6 billion Basra-Aqaba oil pipeline project.
Oil experts estimate that the distance is estimated at 1700 km to extend this pipeline, which passes through two phases, the first stretching from Basra to Haditha in western Iraq, and the second to the port of Aqaba to export oil to the rest of the world.
The negotiations are due to begin in 2013 between Iraq and Jordan after the head of the Aqaba Economic Zone Authority announced a Jordanian-Iraqi meeting in Aqaba to discuss the final details of the pipeline project from the Rumaila field from southern Iraq to Aqaba.
On the completion of talks between these three countries to extend the oil pipeline from Iraq to Jordan and then to Egypt, MP MP of the faction of the wisdom stream that "these issues related to technical matters between the joint committees between the two countries to draw and determine the mechanism of work for this project."
Egypt agreed with Iraq in February 2017 to import 1 million barrels of crude oil per month for a year but the agreement was not implemented.
The Minister of Petroleum and Mineral Resources Tariq Mulla announced on the fifth of last February that his country renewed the agreement to import crude oil from Iraq by one million barrels per month during 2019.
For his part, Spokesman for the Ministry of Oil Assem Jihad said that "the implementation of the extension of the Iraqi-Jordanian oil pipeline linked to the extension of a pipeline from Basra to Haditha as a first stage and from modern to the Gulf of Aqaba in Jordan (investment project) as a second stage with a capacity of more than one million barrels of oil per day.
Jihad said that "this project is in the stage of finalization after being referred by the Ministry of Oil to the Council of Ministers of Energy for study and approval in the Council of Ministers," explaining that "the costs and the terms of completion will be discussed with the company invested and agree on rates of deduction of profits.
He continued that "the extension of this pipeline will deliver Iraqi oil to Egypt and then to the African countries."
Iraq's oil minister, Thamir al-Ghadhban, said earlier that Iraq was planning to increase its oil production and export capacity in 2019, focusing on its southern fields, and that he was close to reaching an agreement with international companies, adding that Iraq is the second largest producer of crude in OPEC after Saudi Arabia , And targets a production capacity of five million barrels per day in 2019.
Jihad said that "this project will open to Iraq a new outlet for oil exports and promote trade and economic exchange with Egypt and also opens the way for the export of Iraqi oil to Africa."
In turn, confirms the Committee on oil and energy parliamentary that "the extension of Basra pipeline to Aqaba comes to increase Iraqi oil exports," asserting that "Iraq can not increase its exports from the other competitor."
The Jordanian city of Aqaba lies in the far south of Jordan on the Red Sea coast, 330 km from the Jordanian capital Amman. The port of Aqaba is a major commercial center, a major link in trade between Jordan and the outside world.
"This proposal has been put forward within the parliamentary energy committee since the previous session and was also discussed in the Economic Committee within the Council of Ministers and approval was given to extend this pipeline from Basra to Aqaba," said Habit.
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