Baghdad is to export 100,000 barrels of crude oil a day to Abadan’s refinery in south of Iran, the Iraqi oil Minister said. In return, Iran is to provide Iraq with oil products to meet its demands.
The Iraqi petroleum, planned to be transported to the oil refinery in Abadan by trucks, would be priced according to international rates, Iraqi oil Minister, Hussein al-Shahrestani said.
Shahrestani stated that Iran was expected to export 1.5 million metric tons of kerosene and 1.5 million tons of gasoline to Iraq in return.
Despite the shortage of oil products in Iraq that has emerged since and as the result of the US invasion of 2003, Baghdad has not yet been able to meet its domestic demand.