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Iran and Iraq sign agreement on oil pipeline construction

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Iran and Iraq sign agreement on oil pipeline construction

Oil Minister of Iraq, Jabbar Allibi, and his Iranian counterpart, Bijan Zanganeh, signed a memorandum of understanding to study the possibility of building a pipeline to export oil from Iraqi oil fields, Reuters reports on Monday, citing a report of the Oil Ministry of Iraq.

“Iraq and Iran signed a memorandum of understanding on Monday to consider the construction of a pipeline for oil exports from Northern Iraqi oil fields in Kirkuk through Iran,” - the agency says.

The agreement also involves the possible transportation of Iraqi oil to Abadan oil refinery in Iran.

Iraqi Oil Minister also said in the message that he agreed to meet with Iranian counterpart Bijan Zanganeh to discuss cooperation in the policy of OPEC countries.

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