By John Lee.
Iraq would reportedly consider selling crude through Iran if talks with Iraqi Kurdistan on an oil revenue-sharing agreement fail.
Deputy Oil Minister Fayadh al-Nema told Reuters that Iraq’s State Oil Marketing Organisation (SOMO) plans to hold talks with the Kurdish Regional Government (KRG), possibly this week.
He said “If the negotiations come to a close [without an agreement] we will start to find a way in order to sell our oil because we need money, either to Iran or other countries.”
An agreement between Iran and Iraq could function in a similar fashion as oil-swap deals Tehran has had with Caspian Sea nations, according to an oil official.