Iraq may Sell Oil through Iran if talks with KRG Fail

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.

(Source: Reuters)

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