Iraq's cabinet has authorized Basrah Oil Co. (BOC) to sign a memorandum of understanding (MOU) with Syria's energy ministry for a proposed crude oil export corridor to the Mediterranean Sea, marking the latest step in Baghdad's drive to diversify export routes beyond the Mideast Gulf.
Basrah Oil Co. Leads Iraq's Mediterranean Export Push
Iraq's selection of Basrah Oil Co. to sign an oil pipeline MOU with Syria illustrates how Baghdad is giving the company a leading role in major export projects.
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