DUBAI (Reuters) – Iraq and Oman signed a memorandum of understanding to cooperate within the oil and gasoline sector, together with the potential for constructing a shared refinery in Oman for processing imported Iraqi crude, the Iraqi oil ministry stated in an announcement on Thursday.
Iraq will purpose to export crude to Oman, in response to the MoU, import oil merchandise from there and construct oil storage amenities in each international locations, the assertion quoted Iraqi oil minister Thamer Ghadhban as saying.
“The MoU goals at finding out the potential for constructing a shared oil refinery within the Sultanate of Oman to course of the crude oil imported from Iraq,” Ghadban stated.
The 2 international locations may even discover prospects of cooperation and funding in exploring and producing oil and gasoline. Along with refining, manufacturing, storing and advertising crude oil and oil merchandise between them, the ministry assertion stated.
Reporting by Dahlia Nehme; Enhancing by Susan Fenton and David Evans