Iraq Oil Ministry Says Pipeline to Jordan Needs to Cost Under $9 Billion

DUBAI (Reuters) — The Iraqi oil ministry said on Wednesday the cost of an oil pipeline to Jordan's Aqaba port city should be brought under $9 billion for the project to go ahead.

Talks between Jordan and Iraq about the project have reached an "advanced stage," it added in a statement.

Jordan and Iraq agreed to construct a pipeline to supply Jordan with crude oil and natural gas in 2012. The pipeline would carry crude oil to the Jordan Petroleum Refinery Company’s plant in Zarqa to meet Jordan’s needs and to the Aqaba Port for export purposes.

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