Iraq: Four ports for the export of oil a substitute for the Strait of Hormuz

14/03/2012 13:47

Baghdad, March 14 (Rn) – The Commission on oil and energy parliamentary and experts are concerned, Wednesday, that there are four ports, an alternative to Iraq to export 80% of the oil through the global markets in case they could not transport the oil through the Strait of Hormuz because of the Iran crisis with the West. and increased tensions on the Strait of Hormuz, the most important shipping lane for oil in the world in the past few weeks, after Iran threatened to close it if the West to impose sanctions on its oil exports. A member of the Commission on oil and energy parliamentary Farhad Atrushi told the Kurdish news agency (Rn), that “Iraq is exporting 80 per % of its oil through the Strait of Hormuz, and 20% across Turkey, and any tension in the strait means stop exports by 80%, and this hurt the Iraqi economy. ” and passes about 1.7 million barrels per day of Iraqi oil from the Strait of Hormuz, of the total 2.6 million barrels Iraq is exported daily. explained Atrushi a member of the Kurdistan Alliance that “solutions to the immediate and near and fast is not available, the alternative requires the development of strategic solutions as an addition pipeline, another Turkish oil exporting or expand export line current to accommodate a million or two million barrels instead of the energy current of 400 thousand barrels.” He Alatrotche that “other alternative, a Syrian line and this is unlikely at present because of security and political conditions taking place in Damascus, with no other alternative is to export through Jordanian territory to the port of Aqaba and there is thought by the Iraqi ambassador discuss the issue with the Jordanian side.”The Iraqi government decided yesterday to approve the Adoption of the recommendations of the Committees of Economic Affairs and Energy Affairs to study the probability of a crisis in the Persian Gulf and its implications for Iraq, and asked the advisers to study the issue from all aspects of their impact on the budget and the currency, oil, and the ration card, electricity. For his part, sees the former oil minister Ibrahim Bahr al-Ulum told ( Rn), “It is supposed to be there strategies and studies by the Ministry of Oil and the government for a certain period, which includes the need to adopt a mechanism of diversification of export outlets for oil, and opening up of the Iraqi Arab world will help him to negotiate for example, with Saudi Arabia to restore the tube Iraqi who has set up in the eighties, which bear the energy export nearly a million and a half million barrels per day to the port of Yanbu on the Red Sea, which is one of immediate solutions. ” He explained that “quick action is useful to avoid the extent of the damage on the Iraqi economy if the Strait of Hormuz,” noting that “the government has a plan to create a tube Oil Syrian via investment companies and can be completed during the year to year and a half or other option is to expand the pipeline of the Iraqi oil Turkish. ” and extends the pipeline to Iraq’s oil – Saudi to about 626 km and a transfer of Iraqi oil to the ports of Yanbu Saudi Arabia, established by the 1986 company of Japan’s Mitsubishi F T F Hungarian. He said, “There are some points to the possibility of resorting to the use of tankers wild in the transfer of oil it is impractical and the priority given to the tube Saudi oil and the review of the plan the ministry system of export through the Gulf to 5 million barrels of oil a day.” The relations between Iraq and Saudi Arabia may seen throughout the period that followed 2003, cool and clear like the relations that followed the Second Gulf War in 1990, in contrast to its prosperity during the Iraq war, the 1980-1988 Iran where Saudi Arabia was one of the most Arab states in support of Iraq in that war. experts see in the Iraqi economy that There is an urgent need for the Iraqi government requires them to find alternatives to fast for the export of Iraqi oil a substitute for the Strait of Hormuz. , said economist Hussein Hamad’s (Rn), “There is a worsening in the Strait of Hormuz, and there is escalation of media and political between Iran and the West has been leading the tension and deadlock on the war in the region and Iraq will be the biggest losers due to the adoption of more than 90% of its imports on the sale of oil. ” Hamad said that “Iraq until now did not find alternatives in support of its annual budget to the oil. All sectors of the economy almost stalled nor the formation rate can be relied upon in supporting the national economy, so finding alternatives to export oil through neighboring countries is the best solution to avoid any tensions in the region. ” and added that “The oil ministry has said it is planning for the coming years to increase its oil production and beyond fell 6 million barrels, but is supposed to walk the plan to increase production line parallel with finding new outlets for export. ” From: Haidar Ibrahim, RN Joseph Karwan