Iraq resumes oil exports

An Iraqi oil source said on Sunday that Iraq will resume its oil exports shortly to end thereby suspension of exports which started in the 1st of this month because of differences over oil prices with the UN.

In a statement the Iraqi official said in Baghdad that oil exports will be resumed very soon especially from al-Baker port, stressing that the transporting ships are very close to the port and will head to it very soon.

The Iraqi official added that the Iraqi oil exporting company is preparing after Iraq had approved on Saturday to extend the oil-for-food agreement with the UN for another six ­ months to sign new oil contracts. He added that special contracts relating to the 9th phase of the oil-for-food agreement will be also shortly signed.