Iran is considering refinancing Iraqi oil with refineries
Iran is considering refinancing Iraqi oil with refineries
Oil Minister Bijan Zangana said that Iran is considering refinancing Iraqi oil in its refineries and that the two sides have chosen an adviser to evaluate the issue. Zangana said after his meeting in Tehran with Iraqi Oil Minister Jabbar al-Luaibi on Sunday.
Zankana said that "bilateral talks included the conditions of the oil market and joint cooperation," noting that "Kirkuk oil pipeline - Iran is one of the axes of cooperation, which has already taken good decisions on it, and today also took decisions on the operations of this line."
He added that "the two sides agreed on the international consulting company, which is scheduled to study the Kirkuk-Iran oil pipeline, and decided to conduct the feasibility studies required and submitted to both sides in preparation for operational start-up project."
"The Basra-Abadan oil pipeline (southwestern Iran) is the last axis of the talks and the two sides agreed to speed up the pace of business in this regard," Zangana said.
On the export of gas to Iraq, Minister Zangana confirmed the work of the gas pipeline from "Naft Shahr" (west Iran) to Iraq, pointing out that the pipeline to export gas to Basra will do in the coming months as well.
The Iranian oil minister stressed that the two sides discussed the unified development of oil fields "Khorramshahr and Nafat Shahr al-Janubi" participants, as there are previous agreements on the subject and decided to form a joint committee for the project.
On the other hand, Zankana explained that the banking communication between Iran and Iraq is still facing obstacles, but Tehran received in cash the dues of the amount of gas it is currently exporting.
On the commitment of members of the Organization of Petroleum Exporting Countries (OPEC) to the agreement to reduce production, Zangana considered that the members of the Organization committed to 90 percent.
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