By Simon Kent.
Following the news earlier this month that Saudi Arabia is reopening their embassy in Baghdad, an un-named official in Iraq’s Ministry of Oil has suggested there may be a plan to reopen the Yanbu pipeline from Iraq to Saudi Arabia.
Speaking to Baghdad paper Al Sabah, the official said that Iraq was seeking to diversify its export outlets, and the Yanbu pipeline was one option, an old section of oil infrastructure that was closed following Saddam Hussein’s invasion of Kuwait in 1991.
The terminal that stores oil near Yanbu is al-Mu’ajjiz, which has 10 million barrels of storage capacity, and the pipeline is perhaps better known in the industry as the Iraq Pipeline through Saudi Arabia (IPSA.)
(Source: Al Sabah)