Iraq and Jordan Agree to Develop $18 Billion Oil Pipeline
The
Jordan Times has reported that Iraq and Jordan have agreed to begin
planning the construction of an $18 billion pipeline that will carry oil
from the southern city of Basra in Iraq, to the north-eastern port city
of Aqaba in Jordan.Jordan, one of the smallest economies in the Middle
East, suffers from a lack of domestic natural resources and therefore
relies on imports for more than 90 percent of its energy needs; equating
to around 100,000 barrels of oil per day.Energy imports by the kingdom
of Jordan hit 19 percent of GDP in 2011, up from…Read more...http://oilprice.com/Latest-Energy-News/World-News/Iraq-and-Jordan-Agree-to-Develop-18-Billion-Oil-Pipeline.html
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