Source: International Business Times
The UAE has also intensified work to open a new pipeline bypassing the key waterway. Iraq and the United Arab Emirates are both intensifying plans to expand pipelines and avoid depending on the Strait of Hormuz as the blockade of the key waterway resulting from the Iran war continues. CNBC noted that the Iraqi cabinet last week approved plans to accelerate exports through its Kurdistan-Turkey pipeline network, potentially increasing shipments from about 220,000 barrels a day to some 770,000.
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