Iraq is expediting plans to build a new export pipeline network that will link its Basra oil fields to Syria and Turkey. The pipeline system will be developed by a consortium of foreign partners, with TotalEnergies joining Chevron, Qatari-Syrian company UCC Holding and US investment company TI Capital.
On 25 August, Iraq’s Minister of Oil Bassim Khudair received the CEO of UCC Holding, Ramez al-Khayyat, and his brother, Moutaz al-Khayyat, the company’s chairman to discuss the project. A ministry press release following the meeting identified UCC as the leader of the consortium. The company has a strong engineering pedigree, is expanding in the energy sector and has political connections in Syria, Qatar and the US. (CONTINUED - 797 WORDS)
