Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq may consider hedging in oil production

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269868
    Join date : 2012-12-21
    • Post n°1

    Iraq may consider hedging in oil production Empty Iraq may consider hedging in oil production

    Post by Rocky Wed 31 May 2017, 2:06 am

    Iraq may consider hedging in oil production




    Falah Al Amiri , head of the Iraqi Oil Marketing Company (SOMO) that Iraq may consider hedging part of its crude oil production as a means of protecting government revenues in the face of the risk of crude price volatility.
    Amri said , which is Iraq 's ambassador to the Organization of the Petroleum Exporting Countries (OPEC), in a press statement, from within our strategy in the future, we may examine hedge for a portion of Iraqi crude, Fssomo suggests the idea at the present time has not been studied yet. "
    It is not clear hedge type which may be studied by SOMO, at a time when seeking some institutions, such as Pemex oil monopoly in Mexico, to ensure the sale of oil at a fixed price and content throughout the year , while others hedge, such as Shell and BP, in their sales against the volatility of oil prices in the short term, which helps hedge short - term limit on price fluctuations between the time of signing the sale of oil contracts Delivery time and payment of value.
    Amri also said, we have a lot of requirements that must be implemented first, the need to hedge study well in addition to training people with the need to know the best working in the hedge field of companies, we still do not understand the hedging process completely. "
    He added, is not certain that Iraq will adopt hedging practices, continuing: that Somo aims to use tools such as auctions and joint ventures to promote the interests of Iraq 's oil and reduce the import of petroleum products.
    And founded Somo and Atasko Russian, a joint company for trade in Dubai crude to market from joining it to other producers in the Middle East are buying and selling oil to boost their income.
    SOMO sold the company for marketing oil and last month, the first shipment of Basra light crude through bidding in the DME, which may become a platform for price discovery, where crude is the marketing of Oman , which is sold in Asia at the Dubai Mercantile Exchange is currently the goods.
    Falah al - Amiri , General Manager of "SOMO", at the time said that " the inclusion of auctions Borse Dubai as an option for the sale of Basra Light crude, in order to meet demand in Asia, and providing equal opportunities for clients in order to reach the immediate ship , the .
    The State Oil Marketing Company (SOMO) is the institution responsible for oil marketing in Iraq.



    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sat 11 May 2024, 6:17 am