Iraq and Iran will join their oil pipelines and Baghdad’s oil will reach the Persian Gulf through Tehran's pipelines. An important agreement that signed at the margins of the informal OPEC meeting on 28th September in Algiers, between two countries that historically have often been on opposing sides or at war. The agreement was signed by the Iranian Oil Minister, Bijan Namdar Zanganeh and his Iraqi counterpart, Adil Abdul-Mahdi.
Along the same lines Iran's move towards studying an agreement with Georgia to build a refinery in the port of Supsa on the Black Sea. Stressing that the plant will employ 800 Georgians, Prime Minister Giorgi Kvirikashvili also underlined that this agreement will strengthen Georgia's position as a transit country within the international energy scene. The agreement was signed with the Iranian organization GEOPARS.
All the while Russia - also present at the Algiers meeting, although not an OPEC member - has said she is willing to consider joint action involving both OPEC and non-OPEC countries in limiting oil production, but it is not yet ready to define the timing of the freeze in production. The news was given by the self-same Russian Energy Minister, Alxander Novak: "We have already discussed the problems and mechanisms involved in the freeze. The tools may exert different influences on production. We will consider the final proposals that the OPEC countries give in November. Everything will depend on the macroeconomic situation and the plans of the companies," said Novak.