Baku, Azerbaijan, July 17
By Khalid Kazimov – Trend:
Iraq has paid off a part of its outstanding debt to Iran over previous power purchases.
Hoshang Falahatian, an Iranian deputy energy minister, has said that Iraq cleared some $500 million over the past four months, IRNA news agency reported.
Saying Iraq still needs to pay back $800 million to settle all of its power debts to Iran, he added that the Arab nation has promised to clear another installment of its debts over the coming two weeks.
The official further added that Iran continues to export power to its western neighboring state. Iran enjoys energy exchange deals with several neighboring countries including Azerbaijan, Turkey, Pakistan and Iraq as well as Turkmenistan.
Over the past weeks following a considerable surge in domestic power consumption, Iran decided to reduce its exports from 1,300 megawatts (MW) to 900 MW in peak hours.
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