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Iraq may sell oil through Iran

Iraq may sell oil through IranIraq's government is considering selling crude through Iran in case talks with the autonomous Kurdish region on an oil revenue-sharing agreement fail, Reuters reported Monday, citing a senior oil ministry official in Baghdad.

Iraq's State Oil Marketing Organisation (SOMO) is planning a meeting with Kurdish Regional Government (KRG), possibly next week, Deputy Oil Minister Fayadh al-Nema said in an interview on Friday evening.

"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", he said Reuters by telephone.

Iran would import Iraqi oil to its refineries and export an equivalent amount of its own crude on behalf of Baghdad from Iranian ports on the Gulf. Iraq has ports on the Gulf but they are not linked to the northern Kirkuk fields by pipeline.

In June Kurds officials said they are ready to make a deal with Baghdad if it guarantees them monthly revenue of $1 billion, more than double what they make currently from selling their own oil. The Kurdish government stopped delivering crude oil to the central government about a year ago after Baghdad's payment fell under $400 million a month.
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