Iraq and Iran sign Kirkuk oil swap deal

Mon 11 December 2017 05:18 GMT | 05:18 Local Time

Text size: bigger smaller
W1siziisijiwmtcvmtivmtevmdkvmjavndevyjnlnddmodktzju3yy00odnklwewnzytnzm0mtq1ytjjnzdll2ltywdllmpwzyjdlfsiccisinrodw1iiiwimzywedi3mcmixv0?sha=63d936d004642db2

Iraq has agreed to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil, Iraqi Oil Minister Jabar al-Luaibi said on Saturday, Reuters reports.

The agreement signed by the two countries provides for Iran to deliver to Iraq’s southern ports, on the Gulf, “oil of the same characteristics and in the same quantities” as those it would receive from Kirkuk, Luaibi said in a statement.

The deal in effect allows Iraq to resume sales of Kirkuk crude, which have been halted since Iraqi forces took back control of the fields from the Kurds in October. Between 30,000 and 60,000 bpd of Kirkuk crude will be delivered by tanker trucks to the border area of Kermanshah, where Iran has a refinery, Luaibi said.

The two countries are planning to build a pipeline to carry the oil from Kirkuk, so as to avoid trucking the crude, he said. The pipeline could replace the existing export route from Kirkuk via Turkey and the Mediterranean by pipeline.

News.Az

Printer

Commentary

Most read articles

More from World

In The Region

Editor Picks

Azerbaijan Cuisine

Explore the food of Azerbaijan - from sherbet to succulent kebab, from baklava to fragrant pilaff

Follow us

Find us on Facebook

Real estate