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Iran, Iraq to start oil, gas swaps soon: Iraqi minister

Iraq's Oil Minister Ibrahim Mohammad Bahr al-Uloum has said that Iran and Iraq would soon start mutual oil and gas swap projects, stressing that he would discuss the details of the projects in his upcoming visit to Tehran, IRNA reported from Ilam, Iran.

The Radio Free Iraq quoted Bahr al-Uloum on Tuesday evening as saying that the projects are based on Iran's proposals as parts of its pledges to help the reconstruction of Iraq.

The Iraqi minister also said that he would discuss with Iranian officials about his participation in the next summit of the Organization of Petroleum Exporting Countries (OPEC), December 5.

Iran's Foreign Minister Kamal Kharrazi told a donor's conference for Iraq in Madrid last month that Tehran is ready to enter oil swap arrangements with Baghdad of up to 350,000 barrels a day to help the Iraqi reconstruction efforts.

Kharrazi also said that Iran is ready to provide a facility of up to 300 million dollars in buyers' and suppliers' credits and offered to supply electricity and gas to Iraq.

... Payvand News - 11/12/03 ... --

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