Iran Reportedly Drops Plans for Oil Pipeline
Iran has abandoned plans to build a $2-billion pipeline intended to provide it with a safe oil outlet in the face of devastating Iraqi air attacks on the Kharg Island export terminal, the Financial Times said Wednesday.
The British paper, quoting Japanese trade officials in Tehran, said Iran informed bidders that it is shelving the construction of the 230-mile pipeline from the southern port of Ganaveh to Asaluyeh. It said that Tehran’s decision was prompted by declining oil prices, which have seriously affected its oil-based economy.
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