Iraq Will Halt Kirkuk Oil Exports to Iran
Iraq will stop trucking crude from its northern Kirkuk oilfield to Iran in November to comply with sanctions imposed on its neighbor by the United States, five sources familiar with Iraqi oil export operations said on Friday.
Kirkuk is one of the biggest and oldest oilfields in the Middle East. Last year Iraq began to ship crude from Kirkuk to Iran for use in its refineries, and Iran agreed to deliver the same amount of oil to Iraq’s southern ports, Reuters reported.
Currently, Iraq is exporting less than 30,000 barrels per day to Iran via truck. “Kirkuk oil trucking to Iran will be halted in November in line with the American sanctions against Iran. State oil marketer SOMO plans to sell 30,000 bpd from a small oilfield near Mosul as of November as an alternative. SOMO issued the tender on Thursday,” one source said.
President Donald Trump’s decision to withdraw from a 2015 international nuclear accord with Tehran in May and reimpose sanctions has put Iraqi Prime Minister Adel Abdul Mahdi’s incoming government in a difficult position as the country’s economy is closely intertwined with neighboring Iran.
source: Financial Tribune
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