Iraq Offers Pakistan Oil on Credit

Iraq has reportedly offered to supply oil to Pakistan with a long-term deferred payment facility.

A Special Assistant to the Prime Minister said that a delegation would go to Iraq to negotiate a deal.

“Oil refineries in Pakistan are designed to refine low sulphur oil [so] new refineries would be required to process Iraqi oil,” he added.

He also said that Pakistan Petroleum Limited (PPL) was going to start operations in Iraq with an investment of $100 million to explore oil and gas reserves.

(Source: Daily Times (Pakistan))

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