Iraq-Saudi Oil Pipeline May Be Re-Built

Iraq’s Oil Ministry is studying an offer submitted by a private a Saudi company to rebuild the idled Iraq-Saudi oil export pipeline, ministry spokesman Asim Jihad told Reuters.

Jihad and a representative of the Saudi firm, Ali Mahir, said the offer proposed involving Japan’s Mitsubishi and a Hungarian company identified as OTV, which took part in the construction of the original 626 km (390 mile) pipeline, which had a capacity of 1.7-million barrels per day. Alsumaria TV says the proposal involves Mitsubishi along with Bulgarian and American companies.

“We welcome any cooperation with Saudi Arabia in the oil sector to enhance bilateral relations. The offer is under discussion,” Jihad said.

(Sources: Alsumaria TV, Reuters)

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