The Iraqi Ministry of Oil announced today the formation of an Iraqi-Syrian joint committee to study the potential revival of the Banias pipeline for exporting Iraqi crude oil through Syrian ports.

The announcement came during a meeting in Baghdad between Iraqi Oil Minister Hayan Abdul Ghani and Syrian Energy Minister Mohammad Bishr to discuss bilateral cooperation in oil, gas, and energy sectors.

Key Discussion Points:

1. Pipeline Rehabilitation: Both ministers examined the current status of the Banias pipeline and agreed to form a joint technical committee to assess its condition and potential for resuming oil exports.

2. International Consultant: The parties proposed involving an international consultant to evaluate the pipeline's operational viability, pumping systems, and rehabilitation feasibility.

3. Export Diversification: Minister Abdul Ghani emphasized the strategic importance of reviving the Iraq-Syria oil export route, noting Iraq's plans to expand crude export outlets amid "increased production capacities" for greater export flexibility.

4. New Pipeline Project: The ministers discussed Iraq's ongoing 2.25 million barrel/day Basra-Haditha pipeline project, which could integrate with the Syrian route.

Syrian Perspective:
Minister Bishr stressed:

• The critical need for regional cooperation to restore Syria's energy infrastructure

• The urgent rehabilitation requirements for the aging Iraq-Syria pipeline, damaged by sabotage and decades of disuse

Historical Context:
The Banias pipeline (established 1950s) once transported 300,000 bpd from Kirkuk to Syria's Mediterranean port but has been inactive for over 20 years.