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2017/01/11 | 15:01
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Iraq exports oil to Egypt within days: ambassador

(Iraq News)- 06 Aug 2003, Kirkuk, Iraq — A worker maintains production at the North Oil Company in Kirkuk.

North Oil Company, which produces two-thirds of Iraq’s total, has been unable to export due to sabotage on the pipeline, twice last month.

— Image by © Ed Kashi/Corbis

Baghdad ( Iraq will begin exporting a daily one million barrels of oil per day to Egypt as per an agreement reached two weeks ago, Iraqi ambassador to Cairo, Habib al-Sadr, said Wednesday.

Speaking to Egypt’s state-run agency MENA, al-Sadr said the light oil exports from Basra fields are increasable with facilitated payment terms.

The agreement involves extending an oil pipeline from Iraq to Egypt via Jordan.

Petroleum exports from Iraq’s southern outlets soared to 3.510 million barrels per day in December, an unprecedented rate for central and southern export spots, according to a statement on Monday by the oil ministry.

Iraq, which maintains the world’s second largest reserve after Saudi Ar Arabia, pledged to cut 210.000 barrels a day to 4.35 million barrels starting January in line with an historic OPEC members agreement reached in a Vienna meeting in December.

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