Iran to export oil products to Iraq

Oil&Gas Materials 27 March 2013 10:51 (UTC +04:00)

Azerbaijan, Baku, March 27/ Trend F.Milad‎‏/

Iran plans to daily export 4 million barrels of oil products to Iraq

The agreement was reached during Iranian Oil Minister Rostam Qasemi's visit to Baghdad last month.

Based on the agreement Iran will daily export 2-4 million liters of oil products from Bandar Abbas refinery to Iraq through sea.

Deputy Iranian Oil Minister Javad Owji said in February that Tehran and Baghdad have inked a gas contract.

Based on the signed contract, Iran will daily export 20 million cubic meters of gas to Iraq as of summer, the Mehr News Agency quoted Owji as saying.

Iran will eventually increase the volume up to 25 million cubic meters per day, he added.

Iran will transfer the gas to the border via 6th nationwide gas pipeline, he said.

Owji, also the managing director of the National Iranian Gas Company (NIGC), went on to note that Iraq will use the gas to produce electricity in two power plants.

Iran currently produces 550-600 million cubic meters of gas per day.

The Iranian Oil Minister Rostam Qasemi announced in January that Iran plans to sign some new gas export contracts in near future.

By the end of the Fifth Five-Year Economic ‎Development Plan ‎‎(March ‎‎2016), Iran's gas production capacity would reach one billion cubic meters per day, Qasemi said.‎

‏By the end of the plan, the country will also produce 5.6 million ‎barrels of oil per day, he added.‏