Iran, Iraq Discuss Oil Exchange Deal

Khaleej Times Online – Iranian and Iraqi oil ministers on Saturday discussed details of a plan for Teheran to provide refined products in return for Iraqi crude, the state news agency IRNA reported.

In July 2005, Shia-led Iran signed a deal to buy 150,000 barrels per day of Basra light crude in return for petrol, heating oil and kerosene.

Hussein Al Shahristani, who is on a four-day visit to fellow OPEC member Iran, and his counterpart Kazem Vaziri-Hamaneh also discussed cooperation in exploiting jointly-shared oil fields, IRNA said.
Khaleej Times Online