Iran and Iraq have reached an understanding about developing two oilfields on th...
GENEVA - Iran and Iraq have reached an understanding about developing two oilfields on their mutual border, Iran’s oil minister was quoted saying on Sunday, a day after Iranian President Hassan Rouhani called for increased trade between the two countries.
Rouhani called on Saturday for Iran and Iraq to expand their gas, electricity and oil dealings and boost bilateral trade to $20 billion, state TV reported, despite difficulties caused by U.S. sanctions against Tehran. Iraq imports roughly 1.5 billion standard cubic feet of gas per day from Iran via pipelines in the south and east of the country. Zanganeh noted Iraq owes Iran approximately $1 billion for gas supplied in the past.
After a trip to Iraq last month by Rouhani and Zanganeh, Iran had agreed to help Iraq with technical and engineering services in the oil sector.
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