Eco

Iraq Revives Land Route Through Syria to Export Crude Oil via Baniyas Port

Iraq Revives Land Route Through Syria to Export Crude Oil via Baniyas Port

route through Syrian territory to ship crude oil to the port of Baniyas, as part of efforts to diversify its export outlets and secure alternative routes away from the Strait of Hormuz, where maritime traffic has been disrupted by the war with Iran, according to two informed sources cited by Reuters.

Basra Oil Company Director General Basim Abdul Karim said Qatar-based energy group UCC Holding began transporting Iraqi crude oil by truck to Syria's Baniyas port last month.

Abdul Karim explained that daily shipments range between 120,000 and 150,000 barrels under a contract with Iraq's State Oil Marketing Company (SOMO), noting that the volume transported depends on the availability of trucks.