Iraq-Syria Oil Pipeline to Bypass Hormuz Is 4 Years and $15 Billion Away

The project to ship Iraqi crude to the Syrian Mediterranean coast to bypass the Strait of Hormuz is still at least four years and $15 billion in investments away, sources familiar with the project told Reuters on Monday. The pipeline plan, supported by the U.S. Administration as a way to reduce the importance of the Strait of Hormuz in global oil supply, is being reviewed and its feasibility assessed by a consortium, which includes U.S. supermajor Chevron. The U.S. is touting the project as making Hormuz “irrelevant” within two years,…