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Oil expert: Sumo "gamble" on the loss of permanent customers in Asia
January 29 2018 09:48 p
January 29 2018 09:48 p
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[rtl][rtl]Hamza Al-Jawahiri[/rtl]
[/rtl]
Oil expert Hamza al-Jawahiri said the method of selling the Iraqi oil marketing company Sumo to Basra's heavy oil is not free of the risks that may cause the loss of permanent customers in Asia.
"Sumo is trying to experiment with the sale of heavy crude in the stock exchange or auctions, as it seeks to achieve profits and returns more than before," Jawahri said in a press statement.
He added: "These attempts have achieved profits estimated at about $ 40 cents a barrel more than the prices announced by the company."
But he said: "The way the stock market can generate additional profits, but it also carries many risks, the most important dimensions of permanent customers for Sumo, especially in Asia."
"Iraq needs stable customers in Asia, because US markets are volatile, in addition to the existence of rock oil that threatens the world, so we do not want to increase the share of sales to America at the expense of Asia, even if it caused a loss of 30 cents per barrel."
//Mother
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Follow-Up
[rtl]Oil expert Hamza al-Jawahiri said the method of selling the Iraqi oil marketing company Sumo to Basra's heavy oil is not free of the risks that may cause the loss of permanent customers in Asia.
"Sumo is trying to experiment with the sale of heavy crude in the stock exchange or auctions, as it seeks to achieve profits and returns more than before," Jawahri said in a press statement.
He added: "These attempts have achieved profits estimated at about $ 40 cents a barrel more than the prices announced by the company."
But he said: "The way the stock market can generate additional profits, but it also carries many risks, the most important dimensions of permanent customers for Sumo, especially in Asia."
"Iraq needs stable customers in Asia, because US markets are volatile, in addition to the existence of rock oil that threatens the world, so we do not want to increase the share of sales to America at the expense of Asia, even if it caused a loss of 30 cents per barrel."
//Mother
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