Tehran, Baghdad to expand oil cooperation

[DinarWhiz]

http://tehrantimes.com/economy-and-business/98446-tehran-baghdad-to-expand-oil-cooperation

TEHRAN - Iran and Iraq have agreed to boost cooperation in different sectors of oil industry, especially developing joint fields, refining and exporting oil products.

An Iranian delegation, headed by Oil Minister Rostam Qasemi paid a visit to Iraq last week and negotiated with Iraqi prime minister as well as oil minister, the IRNA News Agency reported.

According to bilateral agreements, Iran will export 1.7-1.8 billion dollars worth of oil products, including gas oil and kerosene, per year to Iraq.

Iran will also provide the Iraqi side with technical assistance and will cooperate with a third party to build a refinery in Iraq.

Iran and Iraq will adopt a unified position on OPEC's production, and they emphasized the need for its 12 members to pump crude in line with their collective target, Press TV reported, citing a meeting in Baghdad on Saturday between Iranian Oil Minister Rostam Qasemi and Iraqi Prime Minister Nouri Al Maliki.

Iran will insist that Organization of Petroleum Exporting Countries maintain its current ceiling for crude when the ministers gather, Press TV reported, citing Qasemi.

Iran and Iraq are OPEC's second- and third-biggest producers, respectively, after Saudi Arabia.