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Iraq, Oman Sign Oil Cooperation Agreement

Agreements cover mutual exports and construction of oil facilities

Iraq has signed a memorandum of understanding with Oman to work in cooperation on oil sector projects and trade.

The agreement will see Iraq import additional oil products from Oman to meet its domestic demand, whilst in return exporting additional crude oil in the opposite direction.

The two countries have also discussed the potential construction of oil storage facilities and a new refinery which would have shared usage.

Source: Reuters

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