Iran, Iraq sign oil pipeline deal

TEHRAN (AFP) – Iran and Iraq signed an agreement to build pipelines for the transfer of Iraqi crude oil and oil products, the state-run Iran news network Saturday quoted the oil ministry as announcing.

The 32-inch (81-centimetre) pipeline will bring crude from the southern Iraqi port of Basra to the southwestern Iranian port of Abadan. There will be a separately 16-inch one for oil products.


Under the deal, Iran would buy 100,000 barrels of Iraqi crude to be refined in the southern port of Bandar Abbas, then sell the product back to Iraq. The accord would have no upper limit on quantities.

The report did not say when the pipeline will be built or who will pay for it.

AFP