Iraq “Reopens Strategic Pipeline”

According to a report from NINA, Iraq’s Minister of Oil, Abdul Kareem Luaibi [Elaibi], has announced that since Tuesday 4th December crude oil has been pumped through the “Strategic Pipeline”, which runs North-South through Iraq.

Iraq Business News has been unable to verify the report, which also did not specify the direction in which the oil was pumped; a report from the US Energy Information Administration in August 2012 said that renovations to the Strategic Pipeline could take several years to complete.

The Strategic Pipeline, built by Iraq in the mid-1970s, is a north-south system consisting of a reversible 1.4 million bpd pipeline. There are two parallel lines, and capacity on the first pipeline is 700,000 bpd; work on the second line was ceased during the Gulf War of 1990/91. When fully operational, the system would allow for export of northern Kirkuk crude from the Persian Gulf and for southern crude to be shipped through Turkey.

(Sources: NINA, US EIA, Marcon)

One Response to Iraq “Reopens Strategic Pipeline”

  1. Iraq Investor December 7, 2012 at 6:30 pm #

    On a website called Dinar Vets they are seeing this as more evidence of a revaluation of the dinar – hilarious!