Al-Sudani Launches "Executive Authority" for the Largest Strategic Oil Pipeline Project with $1.5 Billion Chinese Funding for 2026

 Prime Minister Mohammed Shia al-Sudani chaired an expanded meeting today, Sunday, April 26, 2026, approving the formation of a special authority headed by the Deputy Oil Minister to implement the multi-directional (Basra-Haditha) pipeline project. The meeting revealed the allocation of $1.5 billion as an initial financing phase under the Iraqi-Chinese agreement, out of an estimated total cost of $5 billion. Al-Sudani emphasized that the project represents a "proactive vision" to secure export routes toward Ceyhan, Baniyas, and Aqaba ports, and ensure flexibility for central and northern refineries, protecting Iraq's oil wealth from current 2026 regional fluctuations.