Advertisement

The World

Iran is considering a pipeline to floating terminals off its central Persian Gulf coast to safeguard its oil from Iraqi air attacks, a London-based newsletter says. The Middle East Economic Digest, in a report to be published Saturday, says Iran may be close to signing a $1.5-billion contract with Italy’s Saipem SpA to build the pipeline. Most exported Iranian oil is now moved by a shuttle fleet of about 16 tankers from the Kharg Island oil terminal in the northern gulf to Larak Island in the south, where it is transferred to oceangoing tankers. There have also been recent reports of negotiations with Turkey for a pipeline across its territory to the Black Sea.


Advertisement
Advertisement