Prime Minister’s Advisor Madhar Mohammed Saleh confirmed on Monday that Iraq has ranked a distinguished position with international groups that follow the best banking compliance systems, making it safe from any international financial risks, denying the existence of cash problems. Saleh said, according to the official agency, and followed by “Mil, that “the mechanisms of cash issuance are one of the exclusive competencies of the Central Bank of Iraq because it is the issuing bank based on its Law No. 56 of 2004,” noting that “what is published here and there about problems in cash liquidity is far from the firm institutional basis of the monetary authority in Iraq, which is one of the most important authorities concerned with the issues of availability of cash and the stability of the payment system, which adds the sustainability of the stability of transactions in the national economy.” He added, “Managing cash, building the cash foundation and controlling the country’s liquidity levels is subject to the principle of a long-term scheme consistent with the achievement of the operational objectives of monetary policy in order to achieve the intermediate goals of stability, sustainable economic growth and the determination of long-term cash flows.” Saleh indicated that “Iraq has occupied a distinguished rank among the international financial groups that follow the best international banking compliance systems, which makes our country safe from any international financial risks,” pointing out that “Iraq is an essential pillar in regional and international financial cooperation institutions in the scope of combating money laundering, crime and terrorism funds.”
He pointed out that “Iraq recently received a clear positive praise in its strong anti-money laundering policies at the Financial Action Organization conference for the Middle East and North Africa region held in the Kingdom of Bahrain, a certificate from the international financial community confirming the solidity of the financial and banking system in Iraq with the principles of compliance and the integrity of financial and banking operations.”
The list of the most developed Arab countries for oil pipelines shows that the region has projects that put it at the forefront of the continuous global expansion of crude transmission lines aimed at promoting export or meeting domestic demand.
The length of the oil pipeline projects under construction globally until May 2024 is 11,000 kilometers, while the proposed oil pipelines reach the volume of 22.7 thousand kilometers.
The Arabian Gulf is among the most important areas witnessing oil pipeline construction projects globally, in light of the leading role it plays in the global market with huge reserves of crude.
The Energy Research Unit monitors a list of the most developed Arab countries for oil pipelines, which comes with the implementation of many of them exploratory projects to increase their crude production to maintain its international presence and increase the country’s resources.
Iraq
With the top of the list globally, Iraq is at the top of the list of the most developed Arab countries for oil pipelines, according to data issued by the specialized platform Global Energy Monitor.
The oil pipeline projects – proposed and under construction – reach 3.83 thousand kilometers, divided between 75 kilometers under construction and 3.756 thousand kilometers proposed.
The Iraqi Ministry of Oil plans to implement a third offshore pipeline project to export Iraqi crude from the Faw warehouses of the Basra Oil Company to the Al-Faw oil port with a capacity of up to two million barrels per day, according to statements quoted by local media from the general manager of the Basra Oil Company Bassem Al-Shamkhani.
The $416.9 million offshore export pipeline project is scheduled to be implemented during 2024 and 2025, to be implemented by the Dutch company Royal Boscalis.
This comes as the country implements plans to increase its oil production to 8 million barrels per day by 2027, contributing to Iraq top the list of the most developed Arab countries for oil pipelines.
It is noteworthy that Iraq has about 15 oil transport lines with a length of 2.09 thousand miles, and 10 lines with a length of 1.53 thousand miles to transport oil derivatives, according to data issued by the Organization of Arab Petroleum Exporting Countries (OAPEC).
* (Mile = 1.6 kilometers).
Syria
Although Syria is not one of the major oil producing and exporting countries, it came up with the list of the most developed Arab countries for oil pipelines, and the fifth globally.
The length of the oil pipelines Syria is seeking to develop is 2.14,000 kilometers, but they are all still proposed and have not been moved to the implementation phase so far.
Syria’s oil production fell to 15,000 bpd in 2023, compared to 385,000 bpd in 2011, according to statements made in December by Oil and Mineral Resources Minister Firas Kaddour.
The war in Syria and the tensions it has suffered since 2011 in the energy sector have greatly affected, as the country confirms that international companies in the field of exploration and exploration have completely stopped working, as international institutions have refrained from providing any funding.
Syria has 9 crude oil transport lines with a length of 1876 miles, and 7 611-mile lines to transport oil derivatives, according to OAPEC figures.
Jordan
Jordan came in the list of the most developed Arab countries for oil pipelines with a length of 557 kilometers, but is in the stage of proposed projects.
Among the proposed pipes, the agreement signed between Iraq and Jordan comes to extend a pipeline to transport Iraqi crude oil from Basra to the export ports in the port of Aqaba on the Red Sea coast, at an investment cost of up to $18 billion.
The Iraqi oil pipeline is scheduled to extend from the city of Najaf and along the Saudi border to Aqaba, with the aim of transporting about one million barrels of oil to cover Jordan’s needs of Iraqi crude and transport the remaining quantities of Aqaba by ship to Egypt and other countries.
Jordan relies on import to provide its oil needs, with the country recently offering 11 exploration areas for crude oil to international oil search companies with the aim of increasing crude production and reducing the import bill.
Sultanate of Oman
Oman ranked as the list of the most developed Arab countries for oil pipelines, and ranked 20th globally with the size of projects up to 440 kilometers, but it is still proposed projects.
Oman aims to increase its oil production to 700,000 barrels per day before 2030, with its transformation into a global oil storage center, which is the Ras Madat station, which includes the implementation of pipelines.
It is noteworthy that the storage capacity of the Ras Marz station located in the Special Economic Zone at Duqm is up to 200 million barrels, with the capacity in the first phase to be 25 million barrels of oil.
The first phase of the station includes the construction of tanks with an estimated capacity of 6 million barrels, the establishment of floating platforms for the import and export of oil and undersea pipelines with a length of 7 kilometers, and 3.5 kilometers on the ground, to receive and export oil.
In August 2022, the Omani Ministry of Energy and Minerals signed an agreement with the Oman Tank Company (OTCO) that includes the development, construction and operation of a new pipeline for the transport, storage and export of Omani crude oil from Ras Mawaz Crude Oil Terminal in the Special Economic Zone at Duqm.
Libya
Libya came in the list of the most developed Arab countries for oil pipelines by about 169 kilometers, divided between lines under construction of 100 kilometers, and proposed lines with a length of 69 kilometers.
On May 18, 2024, Libya succeeded in operating the main oil line of the North Hamada field, which will transfer the production of the field to the port of Melleta through the el-Fil field line.
According to the National Oil Corporation data, the filling of the line began gradually by 2,000 barrels per day until reaching 25,000 barrels per day, after which it begins pumping in the direction of the Melleta complex.
According to OAPEC, Libya has about 31 crude oil transport lines 3.48 thousand miles long, and 5 lines with a length of 185 miles to transport oil derivatives.
Saudi Arabia
Saudi Arabia came as the list of the most developed Arab countries for oil pipelines with a volume of up to 86 kilometers, according to figures released by Global Energy Monitor.
The Kingdom is the most Arab country with crude pipelines until the end of 2022 with a number of 36 lines with a length of 3.14 thousand miles, and a diameter between 10 and 56 inches.
In the same context, Saudi Arabia has 7 lines to transport oil derivatives, and 24 natural gas transmission lines, according to the statistical report issued by the Organization of Arab Petroleum Exporting Countries (OAPEC).
The Ministry of Oil explained today, Monday, the details of the memorandum of understanding signed with the American company Honeywell for the development of refineries, and while referring to the Prime Minister’s guidance to prepare a study to establish a pipeline network adjacent to the development path, it revealed projects that will soon enter service for raising refining capacity.
“There is a memorandum of understanding signed by the Minister of Oil under the auspices of the Prime Minister with the Prime Minister with Honeywell, one of the large specialized companies with extensive business in all activities,” said Hamid Al-Zoubaie, referring to “a workshop with the company on the activities of refinery activity.”
Al-Zubei explained that “the memorandum signed aims to develop projects for the development of refineries and meet what was directed by the Prime Minister on the arrival of liquidation capacity to 40 percent of the production capacities of crude oil,” noting that “the increase in refinery capacities to 40 percent will add value to the crude oil produced and lead to raising financial returns and thus be supportive of the national economy.”
He pointed out that “7 projects were discussed with regard to refineries and a capacity of 70 thousand barrels for each project in the governorates of Maysan, Dhi Qar, Muthanna and Najaf, as well as the third unit in the refineries of Al-Dura, Hadith and Al-Qayyarah.”
He pointed out that “the ministry’s plan was presented and discussed extensively with Honeywell through the workshop, and it is hoped that a full vision will be provided by the company on the process of developing the refineries with the capabilities offered within the next two weeks.”
He added, “Honeywell, is known for its expertise and technical and technological capabilities and is important for gaining and transferring expertise for national landers and facility development,” stressing that “after completing the preparation of projects, the implementation mechanism and the time periods for their completion will be determined.”
He noted that “the Prime Minister paid great attention to the liquidation sector through the development and raising the capabilities of refineries for its great economic importance,” noting that “great achievements have been made in the liquidation sector during the last short period represented in the completion of the fourth unit in the South Refinery, which added 70,000 barrels refining capacities, as well as the unit of the elimb in the same southern refineries, which will be opened very soon, where it added about 1200 cubic meters of high-octane gasoline, as well as the completion of the Azmra unit in the Dura refinery and the rehabilitation of the North refinery in a record time, which added a refining capacity of about 150 thousand barrels.”
He continued: “Over the next few days, the LCR unit in the North Refinery will enter service and will add up to 3,000,000 liters of high-octane gasoline, as well as the CCRU in the North refinery has also been operational,” stressing that “all these projects have been completed in very short periods.”
He continued, “The upcoming projects, which will enter service soon, will be a contributing factor in raising refining capacities and filling the local consumer need for some products, including the FCC unit in the southern refineries, as it is hoped that they will be completed in the first half of next year, as they will add a production of high-octene gasoline by 4,000 cubic meters to 4,000,000 cubic liters, as well as we have projects of refinery energy addition in a modern refinery, during the current quarter of this year, by adding 20,000 barrels.”
He pointed out that “the Prime Minister directed the Ministry of Oil to prepare a study that includes the establishment of a pipeline network adjacent to the development path that meets all the future strategic plans of the Ministry of Oil from the fields to the transport process, in order to facilitate the process of transporting crude oil and gas between the north and the south as well as export ports.”
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