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[BUSINESS] · Iraq, Syria · 4 sources

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Part of situation: Iraq oil production and economic impact of Hormuz crisis (16 clusters)

Iraq seeks Syrian overland route to bypass Strait of Hormuz

Iraqi crude oil Strait of Hormuz bypass energy transit Syrian petroleum oil exports

Iraq is seeking to utilize Syria as an overland transit route for its crude oil exports to bypass the Strait of Hormuz. This move aims to mitigate risks associated with the narrow waterway, where tensions and maritime security threats have historically impacted global oil flows.

Yousef Qiblawy, CEO of the state-owned Syrian Petroleum Co., stated that the Iraqi government requested Syrian assistance for exporting crude in addition to existing fuel oil flows. The strategy involves using convoys of trucks to transport oil from western Iraq through Syria to Mediterranean ports.

Currently, approximately 90% of Iraq’s oil production originates from southern fields, with nearly 94% of exports traditionally moving through the Persian Gulf via maritime terminals like the Basra Oil Terminal. While Iraq possesses northern export capacity through the Iraq-Turkey Pipeline, it represents only a small fraction of total output.

Entities

Iraq · Strait of Hormuz · Syria · Syrian Petroleum Co.

Sources

Persian Gulf oil makes its way overland through Syria [libertyunyielding.com]
Iraq Formally Requests Syria Act As ‘Hormuz Bypass’ Route For Its Crude [nemosnewsnetwork.com]
Vermoedelijke geheime “tolgelden” aan Iran houden de oliestroom door de Straat van Hormuz op gang [businessam.be]
Ölpreis-Chaos - groteskes Hin und Her - Blick auf Gemengelage [finanzmarktwelt.de]