Malaysian Merchant Marine (MMM) is in discussions with Iraqi authorities on establishing a joint venture bunker trading operation.

Kuala Lumpur-listed MMM has confirmed it has entered into negotiations with Iraqi Oil Tankers Company (IOTC), a body of the Iraqi Ministry of Oil.

The venture will cover the southern Iraqi port of Umm Qasr, all oil terminals and ports within Iraqi territorial waters as well as the Arabian Gulf, MMM said.