Iraq, Iran to Start Swapping Oil in Days

Iraq, Iran to Start Swapping Oil in Days

Iraq will start to export 60,000 barrel per day (b/d) of Kirkuk fields’ oil, using tanker trucks that will cross the Iranian border to deliver this oil to an Iranian refinery, said Alaa al-Yasiri, acting director general of Iraq’s state oil marketing company SOMO, according to Oil Price.

Iraq will export the oil volumes in a swap deal to receive refined oil from Iran to Southern Iraq.

Iraqi exports could rise, according to al-Yasiri, as the country seeks to start trucking crude oil to Iran’s Kermanshah Refinery next week, Financial Tribune reported.

The two OPEC countries are further planning to establish a pipeline that will carry the oil from Kirkuk in order to avoid trucking the crude.

The new planned pipeline might replace the current export route from Kirkuk via Turkey and the Mediterranean.

Sarah Samir 3292 Posts

Sarah has been writing in the oil and gas field for 8 years. She has a Bachelor Degree in English Literature. She has three years of experience in the banking sector.


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