Iraq to supply Egypt with 4 mln barrels of oil per month

Iraq's Prime Minister Nuri al-Maliki (R) speaks with Egypt's Prime Minister Hisham Qandil during his visit to Baghdad, in this March 4, 2013 picture. REUTERS/Iraqi Prime Minister Media Office/Handout

BAGHDAD: Iraq has agreed to supply Egypt with 4 million barrels of oil per month, during a visit by Egyptian Prime Minister Hisham Kandil to Baghdad on Monday, Iraqi government spokesman Ali al-Moussawi said on Tuesday.

Economic turmoil since a popular uprising unseated Hosni Mubarak last year has stretched Egypt's finances and inflated the premiums the state petroleum company pays for fuel.

Traders say the number of firms supplying fuel to the Arab world's most populous country has shrunk and repeated shortages have angered motorists and disrupted industry and agriculture.

"An agreement has been reached for Iraq to sell crude oil to Egypt with an amount of 4 million barrels per month," Mousawi said, adding Baghdad would study a request to extend a planned oil pipeline from Iraq to Jordan on to Egypt.

The Egyptian government is under pressure to rein in a deficit enlarged by energy subsidies that account for a fifth of the budget. The government must curb the subsidies to secure a vital $4.8 billion International Monetary Fund loan, economists say.

A statement posted on Iraqi Prime Minister Nuri al-Maliki's website on Monday, said the talks aimed "to develop relations between the two brotherly countries... especially in such areas as economic development, trade, oil, energy and investment".





Your feedback is important to us!

We invite all our readers to share with us their views and comments about this article.

Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.

Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (

comments powered by Disqus



Interested in knowing more about this story?

Click here