Baghdad & Tehran agree to allow shipment of daily 30-60,000 barrels of oil to Iran

Iraqi Oil Minister Cabbar Laibi has announced that Baghdad and Tehran have signed an preliminary agreement that would allow 30-60 thousand barrels per day of Kirkuk oil to be shipped to Iran. The Minister also said “This agreement will contribute to the marketing of Kirkuk oil for Iraq and will provide economic benefits as well. Moreover, economic relations neighboring countries will be strengthened”. The Minister also underlined that they had already made a principle agreement with Iran, emphasizing the final agreement would be signed soon.

On the other hand, according to the Iraqi Ministry of Petroleum, the agreement signed in Baghdad by the Iraqi state oil company State Oil Marketing Organization (SOMO) and Iranian authorities provides that 30-60 thousand barrels of oil will be transported by tanks to the border gate in Kirmanshah, for delivery to Iranian companies, here.

The ministry also stated that they were planning to prepare new oil projects to improve economic cooperation with neighboring countries such as Turkey, Jordan, Kuwait, Saudi Arabia and Syria.