Iraq approves three month mechanism to export crude via local, international firms

 

A worker checks an oil pipeline at Nahr Bin Umar oil field, north of Basra, Iraq March 22, 2022.
A worker checks an oil pipeline at Nahr Bin Umar oil field, north of Basra, Iraq March 22, 2022.
(photo credit: ESSAM AL-SUDANI/ REUTERS)

Iraq's cabinet approved mechanisms for exporting Iraqi crude through specialized international and local companies and via multiple export outlets, the government said on Tuesday.

The contracts under the new mechanism will run for three months starting September 1, according to a statement issued after the cabinet meeting.

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