BREAKING NEWS

Iran and Iraq looking to team up on new oil pipeline

By REUTERS

FEBRUARY 20, 2017 15:44

BAGHDAD - Iraq and Iran signed a memorandum of understanding on Monday to study the construction of a pipeline to export crude oil from the northern Iraqi fields of Kirkuk via Iran, the Iraqi oil ministry said in a statement.

The agreement, signed in Baghdad by the oil ministers of the two countries, also calls for a commission to solve a conflict about joint oilfields and the possible transportation of Iraqi crude to Iran's Abadan refinery, it said.

Iraqi Oil Minister Jabar al-Luaibi said in the statement that he also agreed with visiting Iranian counterpart Bijan Zanganeh to cooperate on the policies of the Organization of the Petroleum Exporting Countries.

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