On the 18th local time, Iraq's Ministry of Petroleum announced that Iraq and Syria have signed a memorandum of understanding to rebuild a crude oil export pipeline from Iraq to the Syrian Mediterranean coast. According to information, this oil pipeline was originally built in 1952. It runs from Kirkuk in Iraq in the east to Banias in Syria in the west, and has a total length of about 800 kilometers. This pipeline was severely damaged during the Iran-Iraq War and the Iraq War, and has been abandoned for a long time. The Iraqi Ministry of Petroleum said that the project will help diversify Iraqi crude oil export routes, strengthen energy infrastructure construction and regional energy security, and create a new strategic corridor for Iraqi crude oil to the global market. Due to the recent blockage of the Strait of Hormuz, crude oil exports from Iraq have been greatly restricted. Before the war in Iran broke out, 95% of Iraq's crude oil was shipped through the Strait of Hormuz, and 90% of the government's finances depended on oil revenue. According to statistics from the British Vortex Consulting Company, Iraq's seaborne oil exports plummeted to 8% in May of this year in the same period last year. In order to open up export channels, Iraq has set its sights on this old, dilapidated pipeline. However, some analysts believe that since the pipeline has been abandoned for a long time, it needs to be fully repaired, and it may take two to three years to repair it.

On the 18th local time, Iraq's Ministry of Petroleum announced that Iraq and Syria have signed a memorandum of understanding to rebuild a crude oil export pipeline from Iraq to the Syrian Mediterranean coast. According to information, this oil pipeline was originally built in 1952. It runs from Kirkuk in Iraq in the east to Banias in Syria in the west, and has a total length of about 800 kilometers. This pipeline was severely damaged during the Iran-Iraq War and the Iraq War, and has been abandoned for a long time. The Iraqi Ministry of Petroleum said that the project will help diversify Iraqi crude oil export routes, strengthen energy infrastructure construction and regional energy security, and create a new strategic corridor for Iraqi crude oil to the global market. Due to the recent blockage of the Strait of Hormuz, crude oil exports from Iraq have been greatly restricted. Before the war in Iran broke out, 95% of Iraq's crude oil was shipped through the Strait of Hormuz, and 90% of the government's finances depended on oil revenue. According to statistics from the British Vortex Consulting Company, Iraq's seaborne oil exports plummeted to 8% in May of this year in the same period last year. In order to open up export channels, Iraq has set its sights on this old, dilapidated pipeline. However, some analysts believe that since the pipeline has been abandoned for a long time, it needs to be fully repaired, and it may take two to three years to repair it.