Syria expects up to 1,000 Iraqi oil trucks daily, Bloomberg reports
Syria is preparing to receive around 1,000 trucks of Iraqi crude oil per day as part of a near-finalized export agreement, according to Bloomberg.
Key Takeaways
AIYoussef Qablawi, CEO of the state-owned Syrian Petroleum Company, said the Iraqi government has asked Syria to help export crude oil, in addition to the existing flows of fuel oil.
In an interview with Bloomberg, he added that the agreement between the two governments is nearly complete, with the first shipments of Iraqi crude expected to be transported by truck to Syria by mid-October.
This move comes as attacks on ships passing through the Strait of Hormuz continue, with no final resolution to the conflict with Iran, despite improved shipping flows through the strait in recent weeks. The new plan is expected to strengthen Syria’s position as a relatively safe alternative gateway for Iraqi oil exports, after regional shipments were disrupted by the outbreak of war at the end of February.