LONDON(RAHNUMA): Iraq is exporting oil to global markets through Syria’s Baniyas oil port, emphasizing Damascus’s role as a transit hub during the regional conflict that has affected energy prices.
The Syrian Petroleum Company announced that 299 oil-carrying trucks loaded with Iraqi fuel began entering Syrian territory late on Wednesday through the Al-Tanf border crossing, bound for its energy hub on the Mediterranean coast where the oil will be transferred to tankers.
The US and Israeli military campaign against Iran since late February has disrupted oil flow in the Strait of Hormuz, affecting about 20 percent of global oil shipments and disrupting international energy markets.
Safwan Sheikh Ahmad, the company’s director of corporate communications, said the initiative will help stabilize regional energy markets and enhance Syria’s role as a Mediterranean gateway for oil transport.
On Tuesday, the Al-Tanf and Al-Waleed border crossings between Syria and Iraq were reopened to enhance economic cooperation between the two countries.
