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Jordan, Iraq to offer 25% of pipeline in IPO
- Jordan: Saturday, March 02 - 2013 at 00:27
Iraq's Basra Provincial Council has said it will discuss a proposal to open around 25% of the oil pipeline project with Jordan for initial public offering to be owned by citizens of both countries, Jordan Times has reported. The 1,680-kilometre double pipeline will pump one million barrels of oil per day from Basra to Jordan's Aqaba Port and around 258 million cubic feet of gas, according to the head of design directorate at the Iraqi oil ministry, Jamal Faleh. About 150,000 barrels of oil will meet Jordan's needs, while the rest will be exported through Aqaba. The proposed Jordanian-Iraqi double pipeline to supply Jordan with crude oil and natural gas will be operational by the end of 2017, he said.
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