{"id":2168,"date":"2017-12-10T21:33:21","date_gmt":"2017-12-10T22:33:21","guid":{"rendered":"http:\/\/madaresharghi.com\/iran-iraq-sign-oil-swap-agreement\/"},"modified":"2017-12-10T21:33:21","modified_gmt":"2017-12-10T22:33:21","slug":"iran-iraq-sign-oil-swap-agreement","status":"publish","type":"post","link":"https:\/\/madaresharghi.ir\/en\/iran-iraq-sign-oil-swap-agreement\/","title":{"rendered":"Iran, Iraq Sign Oil Swap Agreement"},"content":{"rendered":"<p><a href=\"http:\/\/madaresharghi..com\">madaresharghi<\/a><br \/>\n<\/p>\n<p> \tIraqi Oil Minister Jabar al-Luaibi said on Sunday a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from northern Iraq&#8217;s Kirkuk Oilfield for Iranian oil is for one year and subject to renewal.<br \/> \tThe agreement signed on Friday by the two OPEC countries provides for Iran to deliver to Iraq\u2019s southern ports, on the Persian Gulf, \u201coil of the same characteristics and in the same quantities\u201d as those it would receive from Kirkuk, Reuters reported.<br \/> \t\u201cThis is an agreement for one year and then we will see after that whether to renew it,\u201d Luaibi told reporters in Kuwait City on the sidelines of an Arab oil ministerial meeting.<br \/> \tThe deal in effect allows Iraq to resume sales of Kirkuk crude, which had been halted since Iraqi forces took back control of the fields from the Kurds in October.<br \/> \tBetween 30,000 and 60,000 bpd of Kirkuk crude will be delivered by tanker trucks to the border area of Kermanshah, where Iran has a refinery.<br \/> \tLuaibi also said the construction of an oil pipeline from Kirkuk to the Turkish Ceyhan Port will take one year to build.<br \/> \tIt will replace an old, badly damaged section of the Kirkuk-Ceyhan pipeline. It will start from the nearby city of Baiji and run up to the Fish-Khabur border area with Turkey.<br \/> \tThe territory that the Kirkuk-Ceyhan pipeline ran through was captured by the self-styled Islamic State terrorist group in 2014 and then recaptured by US-backed Iraqi forces over the past two years.<br \/> \tThe minister said he plans to visit Kirkuk Oilfield on Thursday with a senior executive from BP to \u201cactivate\u201d an agreement signed with the British oil company to help Baghdad halt a huge decline in output from Kirkuk and increase production to higher levels.<br \/> \t\u201cWe have a memorandum of understanding with BP to evaluate Kirkuk Oilfield to raise output and enhance it reservoirs,\u201d Luaibi said.<br \/> \tIraq has asked BP to help increase output from Kirkuk to more than 700,000 barrels per day.<br \/> \tKirkuk is one of the biggest and oldest oilfields in the Middle East, still estimated to contain around 9 billion barrels of recoverable oil, according to BP.<br \/> \tBP has provided technical assistance in the past to the Iraqi state-owned North Oil Company to aid the redevelopment of the Kirkuk field.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>madaresharghi Iraqi Oil Minister Jabar al-Luaibi said on Sunday a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from northern Iraq&#8217;s Kirkuk Oilfield for Iranian oil is for one year and subject to renewal. The agreement signed on Friday by the two OPEC countries provides for Iran to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[2,8],"tags":[296,118,28,31,159,639,178,56,213,84,95,82,68,22,23,27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Iran, Iraq Sign Oil Swap Agreement - madaresharghi | An Analytical Look at Middle Eastern Developments<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/madaresharghi.ir\/en\/iran-iraq-sign-oil-swap-agreement\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Iran, Iraq Sign Oil Swap Agreement - madaresharghi | An Analytical Look at Middle Eastern Developments\" \/>\n<meta property=\"og:description\" content=\"madaresharghi Iraqi Oil Minister Jabar al-Luaibi said on Sunday a deal signed with Tehran to swap up to 60,000 barrels per day of crude produced from northern Iraq&#8217;s Kirkuk Oilfield for Iranian oil is for one year and subject to renewal. 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