Sunday, May 27, 2007


Iraq accepts Iranian offer to build pipeline to Basra

Oil, Iran
(Azzaman) - Iraq has accepted an Iranian offer to build a pipeline connecting its terminals and refineries to the prolific Iraqi oil fields in Basra. Assem Jihad, Oil Ministry’s Information Officer said, the agreement was reached during a meeting between Oil Minister Hussain Shahristani and the Iranian ambassador in Baghdad.
Initially, the pipeline will carry 200,000 barrels of Iraqi crude to Iran. The countries will soon form a joint committee on how to implement the project, Jihad said. However, Jihad declined comment on financing and duration of execution but said Shahristani has invited Iranian firms to invest in Iraq and present their offers to build new refineries in the country.
The government has said it would extend Iranian firms preferential treatment because many of them are still operating in southern Iraq despite the flight of other foreign companies. Jihad also said Shahristani has recently met with an EU energy delegation to see whether Iraq can contribute to meet the union’s insatiable demand for gas and oil. He said the EU delegation expressed a desire to import Iraqi gas and particularly from the Kash field in the northern Province of Nineveh.

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