China in $18bn Iraq Pipeline Deal

By John Lee.

The China Petroleum Pipeline (CPP) and private company Mass Global have reportedly formed a consortium to build an $18-billion export pipeline from Basra to the Jordanian Red-Sea port of Aqaba (pictured).

Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] told Reuters:

“The two companies will submit their investment offer to the oil ministry in March.”

According to the report, the plan is to export 1 million barrels per dy of Iraqi crude to Jordan, 150,000 bpd of which will supply Jordan’s Zarqa oil refinery.

The pipeline runs through Anbar province, most of which is controlled by the Islamic State group (IS, ISIL, ISIS, Daesh).

(Source: Reuters)

(Aqaba image via Shutterstock)

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