Citing the Oil Ministry of Iraq, news sources have reported that Iraq and Iran have signed a memorandum of understanding (MoU) for a study relating to the possibility of constructing a pipeline that would export crude oil from the northern Iraqi fields of Kirkuk via Iran.
The agreement was signed in Baghdad during a meeting by Iraq’s Oil Minister, Jabar al-Luaibi, and his visiting Iranian counterpart Bijan Zanganeh.
The pipeline would help Iraq diversify its export routes and reduce its reliance on transit through the Kurdish Region Government's territory.
In a statement, Jabar al-Luaibi said that he has also agreed to visit his Iranian counterpart to co-operate on the policies of the Organization of the Petroleum Exporting Countries (OPEC).
Read the article online at: https://www.worldpipelines.com/business-news/21022017/iran-and-iraq-sign-pipeline-study-mou/