Away from Hormuz… Al-Zaidi meets with companies that will extend oil pipelines to the Red Sea and the Mediterranean
Away from Hormuz… Al-Zaidi meets with companies that will extend oil pipelines to the Red Sea and the Mediterranean
2026-11-05
Shafaq News – Baghdad
Iraqi Prime Minister Ali al-Zaidi announced on Thursday that the government’s goal is to raise oil production to (10) million barrels per day, and to remove all obstacles to this project that supports development in the country and consolidates Iraq’s position in securing energy globally.
This came during Al-Zaidi’s reception of representatives of the consortium of companies participating in the project of the pipeline transporting Iraqi crude oil to ports on the Mediterranean Sea and the Red Sea.
Al-Zaydi confirmed, according to a statement received by Shafaq News Agency, that the government has adopted an open-door policy in its dealings with foreign companies to overcome obstacles and bureaucracy, in light of the goals it is working on despite the difficulties and challenges.
He added that “improving the economic situation and developing this sector will have a positive and direct impact on the lives of citizens,” stressing “adopting realistic prices that are commensurate with the costs of production and the quality provided.”
Al-Zaydi explained that “the partnership with American and multinational companies has important positive effects,” stressing that the United States and American companies support strengthening the economic partnership with Iraq.
In conclusion, Al-Zaydi stressed “the importance of preserving Iraq’s sovereignty and stability, and emphasizing joint action to promote common interests.”
Iraq is working to diversify its crude oil export outlets and reduce its dependence on the Strait of Hormuz through strategic projects linking its fields to ports on the Mediterranean and Red Seas.
The plan consists of adopting two routes: the first is the Basra-Banias pipeline (to the Mediterranean Sea), which connects the southern fields, Basra Governorate and Kirkuk to the port of Banias on the Syrian coast and through it to Turkey/Mediterranean, and the second is the Iraqi-Saudi/IPSA pipeline to the Red Sea, which extends for a distance of about 1568 kilometers from the Zubair field in Basra through Saudi lands to the port of Al-Muajaz/Yanbu on the Red Sea.
shafaq.com
