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Iran and Russia Form Coalition for Joint Oil Venture

Russia's Lukoil will provide training and support to its Iraqi counterparts.

Iraq’s State Oil Marketing Organization (SOMO) and Russia’s Lukoil have formed a joint venture to market crude oil.

In a statement, the Iraqi Oil Ministry said Litasco — Lukoil‘s international marketing and trading arm — would help sell Iraqi crude and train Iraqi staff in marketing.

 

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