Iraq/Kurdistan: Iraq Oil Minister Says Kirkuk Oil Swap Deal with Iran Is for One Year

Dec 10, 2017 | Ahmed Hagagy, Reuters
View Original

Iraqi Oil Minister Jabar al-Luaibi said on Sunday that a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from the northern Iraqi Kirkuk oilfield for Iranian oil is for one year and subject to renewal. The agreement signed on Friday by the two OPEC 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.