Iraq approves $4.56b Basrah-Haditha oil pipeline project

Iraq’s Cabinet approved the Basrah-Haditha oil pipeline project, according to a statement from the Prime Minister’s office on Tuesday. The project, valued at approximately 5.97 trillion Iraqi dinars ($4.56 billion), is expected to bolster the country’s crude oil transport capacity.

The pipeline is expected to facilitate the movement of crude oil to Iraq’s central and southern regions, the oil ministry noted in August. The initiative comes as Iraq maintains an oil output of approximately 4 million barrels per day, according to ministry officials.

Attribution: Reuters

Subediting: Y.Yasser