Iraq-Syria Oil Pipeline to Bypass Hormuz Is 4 Years and $15 Billion Away

Source Summary

A pipeline project to transport Iraqi crude oil to the Syrian Mediterranean coast, bypassing the Strait of Hormuz, requires at least four years and $15 billion in investment, according to sources familiar with the initiative. A consortium including U.S. supermajor Chevron is reviewing and assessing the project's feasibility. The U.S. Administration supports the plan as a means to reduce the strategic importance of the Strait of Hormuz in global oil supply.