Iraq and Iran have signed an agreement to export up to 60,000 barrels of oil per day from the fields of Kirkuk to Iran.

The rate of exports can be increased through the basin until the completion of the extension of an oil pipeline for this purpose, said Iraqi Oil Minister Jabbar Ali Al-Luaibi.

He added that the agreement signed by the Iraqi oil marketing company Sumo with the Iranian side provides for the Iraqi side to transfer oil via trucks to the joint border point between the two countries near the province of Kermanshah.

Meanwhile the Iranian side delivered the same quantities and the same specifications through the ports South of Iraq.

The agreement was signed by Alaa Yasiri, director general of Sumo and Hidayatzadeh, a representative of the Iranian Oil Ministry.

Al-Luaibi  said that Iraq is keen to strengthen relations with neighbouring countries and the world, and that the Ministry plans to establish strategic oil projects that enhance the prospects of bilateral cooperation with Turkey, Jordan, Kuwait, Saudi Arabia and Syria, as well as Egypt. – TradeArabia News Service