Iran agrees to Iraq oil deal

Iran has agreed to provide Iraq, with which it fought a devastating ten-year war, refined petroleum products to help cover projected winter shortages, an Iraqi oil ministry official has said.

    Iraq's Bahr al-Ulum has been negotiating regional supply

    Aism Jihad, the Iraqi oil ministry spokesman, told Reuters from Iran that a joint Iranian-Iraqi committee will also study a plan to link the two countries' oil products and gas networks to facilitate the exchange.
       
    “An agreement was reached for Iran to provide Iraq with what it needs of oil products to confront the coming winter season,” Jihad said.

    “They will ship LPG (liquefied petroleum gas), petrol and kerosene as soon as possible,” he added. 

    Implementation
       
    The agreement was reached Saturday after Tehran-based talks between Iraq's Oil Minister Ibrahim Bahr al-Ulum and his Iranian counterpart, Jihad said, adding the joint committee was studying the mechanisms of implementing the deal.
       
    "The committee is studying the linking of the networks for gas and oil products which will facilitate the exchange operations and boost this cooperation," Jihad noted.
       
    Asked what the Iranians will get in return for the refined products, Jihad said: "This has not been finalised. They may get Iraqi crude."
       
    Iraq and Iran fought a war between 1980 and 1988.

    Bahr al-Ulum, who plans to return to his country on Sunday, has toured other Gulf OPEC states Kuwait, Saudi Arabia and Qatar.

    Kuwait has also agreed in principle to provide Iraq with refined petroleum products in exchange for Iraqi natural gas and the Iraqi minister has also said that he relayed a similar request to the Saudis and Qataris to head off a looming oil products shortage in his country this winter.

    SOURCE: Reuters


    YOU MIGHT ALSO LIKE

    Interactive: Plundering Cambodia's forests

    Interactive: Plundering Cambodia's forests

    Meet the man on a mission to take down Cambodia's timber tycoons and expose a rampant illegal cross-border trade.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.