Syria and Iraq Restore Oil Pipeline Link in Three-Year Plan

Syria and Iraq are moving forward on a key oil pipeline project to restore the Haditha-Banias pipeline, which will connect Iraqi production to Mediterranean export markets. The Syrian Petroleum Company CEO, Youssef Qablawi, announced that negotiations with Baghdad have begun to finalize the contract, aiming for completion within three months.

The consortium of companies, including Chevron, will carry out the project, expected to take up to three years at most. This project is vital for Syria's economy, as it will generate significant revenues and increase oil production capacity by 1.5-2 million barrels per day.

The pipeline, originally built in 1952 but damaged during the US invasion of Iraq in 2003, has gained new urgency due to the closure of the Strait of Hormuz. Syria's new authorities are seeking to reboot the country's economy and revive its infrastructure after a decade of war.