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Sumo: We will not offset the costs of shipping April crude to Europe and the Americas
10:08 - 19/03/2020
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Information / Baghdad ..
The Iraqi Oil Marketing Company (SOMO) notified its customers on Thursday that it will not be able to compensate for a big jump in shipping costs for crude oil shipments to Europe and the Americas in April, according to a copy of a notice.
The company said in the notice issued to customers that the decision comes because of "the unprecedented big changes in freight rates in parallel with a significant drop in crude oil prices."
The head of the International Energy Agency, Fatih Birol, warned, today, Thursday, that [You must be registered and logged in to see this link.] will face tremendous economic pressure in light of the collapse of the oil price, while appealing to Iraqi officials to find urgent solutions. Ended / 25
The Iraqi Oil Marketing Company (SOMO) notified its customers on Thursday that it will not be able to compensate for a big jump in shipping costs for crude oil shipments to Europe and the Americas in April, according to a copy of a notice.
The company said in the notice issued to customers that the decision comes because of "the unprecedented big changes in freight rates in parallel with a significant drop in crude oil prices."
The head of the International Energy Agency, Fatih Birol, warned, today, Thursday, that [You must be registered and logged in to see this link.] will face tremendous economic pressure in light of the collapse of the oil price, while appealing to Iraqi officials to find urgent solutions. Ended / 25
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