Oil, gas cooperation begins between Oman, Iraq

Iraq and Oman signed a memorandum of understanding to cooperate in the oil and gas sector, including the possibility of building a shared refinery in Oman for processing imported Iraqi crude, the Iraqi oil minister said in a statement on Thursday.

Iraq will aim to export crude to Oman, according to the MoU, import oil products from there and build oil storage facilities in both countries, the statement quoted Iraqi oil minister Thamer Ghadhban as saying.

Source: Reuters