Middle East Economic Survey


No 30


Iran, Iraq Crude-For-Products Deal Prepares Ground For Broader Cooperation

Iranian Minister of Petroleum Bijan Zanganeh and Iraqi Oil Minister Ibrahim Bahr al-'Ulum signed an agreement in Tehran on 19 July under which three pipelines would be built to deliver Iraqi crude oil for refining in Iran in return for deliveries of gasoline, heating oil and kerosene to Iraq. While the agreement marks the first oil industry cooperation between the...