Eric Watkins
Senior Correspondent
LOS ANGELES, July 19 -- Iran plans to finance and build pipelines to supply neighboring Iraq with oil products and to enable Iraq to supply crude oil to Iran, Iranian Oil Minister Bijan Namdar Zanganeh said July 18 in Tehran.
In a joint news conference with visiting Iraqi Prime Minister Ibrahim Jaafari, Zanganeh announced plans for three pipelines: from Iraq's Basrah oil fields to Iran's 400,000 b/d refinery at Abadan, accommodating 150,000 b/d of Iranian purchases of Iraqi crude; from Abadan to Basrah to carry gas oil and kerosine; and from the Iranian port of Mahshahr to Basrah to carry imported oil products.
On July 16, Iraqi Oil Minister Ibrahim Bahr al-Ouloum said a memorandum concerning the deal would be signed soon. He expects the crude oil pipeline to be operational within a year.
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