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Iran, Iraq Sign Kirkuk Oil Deal

Iran, Iraq Sign Kirkuk Oil DealIran, Iraq Sign Kirkuk Oil Deal

Iraq has signed an agreement with Iran to export crude from its Kirkuk Oilfield at a rate of between 30,000 and 60,000 barrels per day, an Iraqi oil official said on Saturday.

Iraq plans to double its production from the oilfield to 1 million barrels per day, its oil minister said last month.

Exports from Kirkuk have been on hold since Iraqi forces took back control of the field from the Kurds in October, Reuters reported. Local Iraqi private broadcaster Alsumariya earlier said the deal had been signed in Tehran, citing Iraqi Oil Minister Jabar al-Luaibi.

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