According to a recent report by Global Energy Monitor, Iran is the leading country in terms of oil pipelines under construction. The report also revealed that the Iranian Oil Ministry is among the top oil pipeline developers in the world. The data from the Global Oil Infrastructure Tracker’s 2023 annual survey shows that Africa and West Asia are home to 49 percent of all oil transmission pipelines under construction globally, with a total cost of USD25.3 billion.
The report indicates that these regions are building 4,400 kilometers of crude oil transmission pipelines at an estimated capital expenditure of USD14.4 billion. Additionally, another 10,800 kilometers of pipelines are proposed in these regions at an estimated cost of USD59.8 billion. Globally, there are 9,100 kilometers of oil transmission pipelines under construction, and an additional 21,900 kilometers of proposed pipelines. The total length of pipelines in development is estimated to cost USD131.9 billion in capital expenditure.
The total 31,000 kilometers of oil pipelines in development worldwide represents a nearly 30 percent increase from the previous year. The top five countries in terms of in-development pipelines, including proposed and under construction, are Iran, the United States, India, Iraq, and Tanzania.
The report also highlights the top five parent companies developing oil pipelines, which are state-owned enterprises and private companies. These companies include Iran’s Oil Ministry, the China National Petroleum Corporation, Iraq’s Ministry of Oil, India’s Numaligarh Refinery Limited, and France’s TotalEnergies.
The data from the report underscores Iran’s significant role in the global oil and gas industry, as the country continues to invest in infrastructure development. The Iranian Oil Ministry’s inclusion among the top oil pipeline developers further highlights the country’s commitment to expanding its oil and gas sector. The report’s findings also suggest that Africa and West Asia are emerging as important regions for oil pipeline development, with significant investments being made in pipeline infrastructure.
Overall, the report’s findings indicate that the global oil and gas industry is continuing to grow, with significant investments being made in pipeline infrastructure. As countries like Iran continue to invest in the development of their oil and gas sectors, the industry is expected to continue to expand, creating new opportunities for growth and development.
Source » menafn