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An agreement with the Russian Lukoil to Iraq's oil marketing
Baghdad / term
The Oil Ministry revealed yesterday, an agreement between the Iraqi Oil Marketing Company (SOMO) with the commercial arm of Russia's Lukoil to establish a joint venture to market crude oil. The ministry said in a statement, said that the joint venture between SOMO and Atasko will contribute to the sale of Iraqi oil and the training of Iraqi personnel in the field of marketing. Upon the Atasko representation office in Iraq, where Lukoil is a major foreign companies operating in the oil production there, according to the website of the company based in the Moscow-based. It handles the management of SOMO exports under the control of the central government in Iraq, while areas of Iraq's Kurdistan Regional Government sells produced by the region of oil independently. The two governments share production from a disputed field in the northern region of Kirkuk. The Somo said, last week, the average oil exports amounted to 3.756 million barrels per day in March. Iraq's second-largest Organization of Petroleum Exporting Countries producers (OPEC) after Saudi Arabia.
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