AMMONNEWS - A Jordanian-Chinese consortium has submitted a bid to build and operate a one-million-bpd crude oil export pipeline to the Red Sea port of Aqaba, Iraq, a report said.
Jordan’s Mass Group Holding, along with a consortium of Chinese companies, submitted a service fee proposal to Iraq’s oil ministry for the project, reported Iraq Business News, citing Platts.
Under the contract, crude will be supplied by state-owned South Oil Company (SOC), via the State Oil Marketing Organization (SOMO).
In return, the consortium will be paid a service fee, compensating it for construction and fixed operating costs, as well as a throughput service charge.
The deal could see a close in the first half of 2017, the report said, quoting a source as telling Platts.
*Trade Arabia
AMMONNEWS - A Jordanian-Chinese consortium has submitted a bid to build and operate a one-million-bpd crude oil export pipeline to the Red Sea port of Aqaba, Iraq, a report said.
Jordan’s Mass Group Holding, along with a consortium of Chinese companies, submitted a service fee proposal to Iraq’s oil ministry for the project, reported Iraq Business News, citing Platts.
Under the contract, crude will be supplied by state-owned South Oil Company (SOC), via the State Oil Marketing Organization (SOMO).
In return, the consortium will be paid a service fee, compensating it for construction and fixed operating costs, as well as a throughput service charge.
The deal could see a close in the first half of 2017, the report said, quoting a source as telling Platts.
*Trade Arabia
AMMONNEWS - A Jordanian-Chinese consortium has submitted a bid to build and operate a one-million-bpd crude oil export pipeline to the Red Sea port of Aqaba, Iraq, a report said.
Jordan’s Mass Group Holding, along with a consortium of Chinese companies, submitted a service fee proposal to Iraq’s oil ministry for the project, reported Iraq Business News, citing Platts.
Under the contract, crude will be supplied by state-owned South Oil Company (SOC), via the State Oil Marketing Organization (SOMO).
In return, the consortium will be paid a service fee, compensating it for construction and fixed operating costs, as well as a throughput service charge.
The deal could see a close in the first half of 2017, the report said, quoting a source as telling Platts.
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