Iraq to Mediterranean Oil Pipeline

planned

Chevron is exploring a deal with the Iraqi government to transport crude oil out of Iraq without passing through the Strait of Hormuz. The alternative shipping route involves new oil pipelines potentially running from Iraq, through Syria, to the Mediterranean. The existing pipeline through Syria needs repairs and has been offline since 2003. Construction could be relatively quick if the deal proceeds, with the pipeline potentially operational in a few years. However, this pipeline would only carry about 2 million barrels per day compared to the 20 million barrels that pass through the Strait of Hormuz when fully open.