Dec 09 2017

Iraq, Iran sign oil transport deal

The Iraqi Oil Marketing Company (SOMO) has signed an agreement with Iran to export crude oil from Kirkuk oil fields, according to an Iraqi Oil Ministry statement quoted by Kurdish news agency K24.

“The agreement between Iraq and Iran means that Iraq will export oil from the Kirkuk fields to Iran at the rate of 30-60 thousand barrels per day through oil tankers until the completion of the oil pipeline” the statement read.

Kirkuk oil was being transferred to the port of Ceyhan in Turkey by pipeline through the Kurdistan Regional Government (KRG) area until mid-October, K24 reported.

After the jihadist group Islamic State fell, the region came under the control of KRG’s armed forces. Following the Kurdish independence referendum in September, Iraqi Federal Army forces regained the control of the disputed region on Oct. 16 with the help of Iranian-backed Shi’ite militant group, Al-Hashd Al-Sha'abi.