Shipment of Iraqi oil from the Syrian Mediterranean port of Banias has begun again.
GV PANS Oil installations at Banias in Syria (2 shots)
GV Pipelines at Banias (3 shots)
GV PANS Tanker ships moored offshore (3 shots)
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Background: Shipment of Iraqi oil from the Syrian Mediterranean port of Banias has begun again. Iraq closed the 550 mile (885 kilometres) pipeline across Syria in September at the start of the war with Iran.
SYNOPSIS: Before the closure, about five hundred thousand barrels daily flowed to the terminal at Banias. The pipeline, with its spur to Tripoli in northern Lebanon, has a daily capacity of about one-point-four million barrels. The Iraqi pipeline through Turkey has already resumed operations. The two outlets could be providing Iraq with exports of more than one-point-two million barrels a day. This is now the only way Iraq can export oil as the Gulf War has blocked the southern sea route.
The first tankers to leave Banias were from Yugoslavia heading for an unknown destination. The resumption of pumping demonstrates the economic importance of oil to Iraq and Syria. They broke off diplomatic relations last month because of Syria's support of Iran in the War. Iraq is anxious to resume its role as the second largest oil exporter in the Middle East while Syria needs the additional income.