Syrian oil byproducts for Iraqi oil and fuel

It was announced officially that Syria and Iraq signed yesterday an agreement to exchange Syrian oil byproducts for Iraqi crude oil and fuel.

SANA said that an agreement was finalized, at the Syrian ministry of oil and mineral resources in Syria, between the Iraqi Oil Marketing Company in order to exchange Syrian oil and its byproducts of benzene, Kerosene and Mazout for the crude Iraqi oil and fuel on barter deal base.

SANA said that the Syrian and Iraqi sides agreed to define the reciprocated amounts and their prices through periodical monthly meetings, and studying possible increase of the exchange rate between the crude Iraqi oil, and oil and its byproducts from Syria.

Two days earlier, the Iraqi minister of oil said that Iraq will import oil byproducts from the neighboring countries including Syria and Jordan in order to solve the fuel crisis in the country.

Syria is studying the construction of a pipeline linking it to Iraq at a capacity of 800,000 barrels per day in order to replace the current line that has a daily capacity of 200,000, on which Syria says it is not operational because of the American military operations during the invasion of Iraq.