A Route Through Syria
A Norwegian oil company said it is studying the option of exporting crude from Iraq's Kurdistan region through Syria to the Mediterranean Sea, as it looks for international buyers and better prices than its local market offers. The company is weighing the Syrian corridor as one way to move its oil to export markets rather than selling it at home.
Its chief executive told investors and analysts that the route had become available again after being closed during the war in Syria, describing it as an option worth examining as the firm seeks to lift the value of its production.
Prices Drive the Search
The producer said crude from its fields fetched an average of $38.50 per barrel in the third quarter of 2026, up from $31.20 a barrel in the same period a year earlier. Its Tawke and Peshkabir fields averaged 77,621 barrels per day over the quarter, and the company said it planned to step up drilling to raise output.
Reviving Kirkuk-Baniyas
The interest centers on the Kirkuk-Baniyas pipeline, a line that would carry oil from northern Iraq to Syria's Mediterranean coast. The United States announced support in July 2026 for restarting the project, which could reopen a cross-border export corridor that has sat idle for years.
At present, oil from the Kurdistan region is moved in large volumes by truck to pipelines in Turkey and also into Syria for export, an arrangement far more costly and limited than a working pipeline would be.
Years and Billions Away
People familiar with the plan have cautioned that completing the pipeline could take years and require billions of dollars in investment. The company stressed that its review does not amount to a final decision to use the Syrian route.
For Syria, returning the line to service would reopen a source of transit revenue and mark a step in the country's gradual return to regional energy trade.