BASRA: Iraq has invited energy companies and investors to bid to build and finance the first phase of a pipeline that will eventually connect the southern city of Basra with Jordan’s Red Sea port of Aqaba.
The State Company for Oil Projects (SCOP), an oil ministry arm overseeing the project, said the first phase includes the engineering, procurement, construction and financing of oil and gas pipelines linking the Basra fields to a connecting energy station near the city of Najaf.
The initial section of the Basra-Aqaba pipeline was planned to pass through the Haditha pumping station in Anbar province, but the presence of Daesh militants in the desert area forced the oil ministry to change plans.
The pipeline will still pass through Anbar, but it will not go as far north as Haditha. By limiting the first stage to Najaf, the ministry is also delaying construction in Anbar itself.
Initial phase
SCOP manager Nihad Moussa said the closing date for bids is Dec. 25 and a bidding round is expected to be held in the first quarter of 2017.
The planned 350km pipeline will have capacity to ship 2.25 million barrels per day (bpd) and will have a parallel gas pipeline, Moussa said.
The project’s chief engineer Akram Shafeeq said that work on the initial phase of the export project should start in 2018 and end in 2020.
A proposed payments schedule was discussed with interested companies in Basra on Saturday, Shafeeq said, adding that investments would be recouped within five years of the project’s completion.
In 2013 Iraq pre-qualified 12 companies and joint ventures to build an $18 billion export pipeline to Jordan, but the project was delayed by terrorists’ takeover of territory in the west of the country where the pipeline will be laid.
Iraqi security forces have driven Daesh from several cities and towns in the western Anbar province, which borders Jordan, but the militants still hold some territory.
The plan is to export 1 million bpd of Iraqi crude to Jordan, of which 150,000 bpd will supply Jordan’s Zarqa refinery, with the remainder exported through the port of Aqaba.
Iraq invites bids to build oil export pipeline to Jordan
Iraq invites bids to build oil export pipeline to Jordan
Arab Energy Fund takes minority stake in Saudi energy firm APSCO
RIYADH: The Arab Energy Fund has acquired a minority stake in Saudi Arabia’s Arabian Petroleum Supply Co., backing one of the Kingdom’s largest private energy solutions providers as it looks to expand across the Middle East and beyond.
The investment initiates a partnership aimed at pursuing opportunities across the Middle East, North Africa, and select international markets, covering APSCO’s core and adjacent business sectors.
The move underscores TAEF’s commitment to investing in established regional leaders while promoting innovation and sustainable growth across the energy value chain.
According to a press release, the transaction marks The Arab Energy Fund’s first investment of 2026, following an active 2025 during which the fund completed several key deals, including investments in Jafurah Midstream Gas Co. alongside BlackRock and in the platform Tagaddod.
Khalid Al-Ruwaigh, CEO of The Arab Energy Fund, commented on the deal, saying: “APSCO represents a unique platform with strong fundamentals and a proven track record in critical energy segments.”
He added: “This investment aligns with our mandate to support high-quality energy and energy-adjacent businesses that are well-positioned to capture growth across the region and beyond.”
The Arab Energy Fund is a multilateral impact financial institution established in 1974 by 10 Arab oil-exporting countries.
Mohammed Ali Ibrahim Alireza, managing director, APSCO, said: “We welcome The Arab Energy Fund as a strategic partner supporting our next phase of growth.”
He added: “As a pioneer in energy solutions for over 60 years, APSCO remains committed to quality, reliability, and innovation, while continuing to contribute to Vision 2030 by enhancing efficiency and minimizing environmental impact.”
The partnership is designed to bolster APSCO’s long-term growth strategy, operational excellence, and geographic expansion, leveraging TAEF’s regional expertise and institutional network.
APSCO is a Saudi energy company with more than 60 years of experience in integrated energy solutions, including aviation fuels, lubricants, and a nationwide automotive retail network.
The company holds long-term partnerships with global energy leaders, including a 60-year relationship with ExxonMobil for lubricant distribution across several Middle Eastern countries. Since 1999, APSCO has also been the exclusive aviation fueling services provider for Saudia.
