27 Aug '16, 2pm

#peakoil Iraq plans to sell oil through Iran: Iraq’s government would consider selling crude through Iran sho...

Iraq plans to sell oil through Iran Iraq’s government would consider selling crude through Iran should talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, a senior oil ministry official in Baghdad told Reuters. Iraq’s State Oil Marketing Organisation (SOMO) plans to hold talks with the Kurdish Regional Government (KRG), possibly next week, about Iraqi oil exported through Turkey, Deputy Oil Minister Fayadh al-Nema said in an interview on Friday evening. “If the negotiations come to a close” without an agreement “we will start to find a way in order to sell our oil because we need money, either to Iran or other countries”, he said by telephone. Iraq, OPEC’s second-largest producer after Saudi Arabia, depends on oil sales for 95 percent of its public income. Its economy is reeling under the double impact of low oil prices and the war against Is...

Full article: http://peakoil.com/publicpolicy/iraq-plans-to-sell-oil-th...

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