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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

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Established in 2006 as a Community of Reality

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


    Iraq plans to export oil to its Asian customers soon

    Rocky
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    • Post n°1

    Iraq plans to export oil to its Asian customers soon Empty Iraq plans to export oil to its Asian customers soon

    Post by Rocky Fri 09 Mar 2018, 1:45 am

    [size=30]Iraq plans to export oil to its Asian customers soon[/size]
    09/03/2018 10:20 | Number of readings: 1
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    [rtl]Trend Press / Agencies[/rtl]
     
    [rtl]A senior official of the Iraqi Oil Marketing Company said the company would resume normal loading schedule for Basra crude to Asian customers after a three-month trial in which customers were notified of the supplies at a time earlier than usual.[/rtl]


    [rtl]"The Iraqi government company usually informs Asian customers of their supplies one month before the loading, and in the experiment, I told them the supplies six weeks before the loading, in an effort to strengthen their competitiveness against other suppliers and maintain their market share," Al-Quds Al Arabi reported.[/rtl]
    [rtl]"The company has decided to resume its previous schedule in order to satisfy customers from Europe and the United States as well," the newspaper quoted Assistant General Manager Ali Nizar al-Shatri as saying. "Our aim is to satisfy Asian customers and find common ground for all."[/rtl]
    [rtl]Iraq, OPEC's second largest producer, exported 3.4 million bpd in February. It sells its oil under long-term supply agreements.[/rtl]


    [rtl]"Sumo will stop the test (notification six weeks ago) this month and return to its normal schedule of notification (a month ago), and then Asian customers will be informed of the April downloads on March 10," Shattari said.[/rtl]
    [rtl]Sumo has also auctioned the Dubai Mercantile Exchange (DME), bids across the Platts price platform and established a joint marketing venture with Russia's Litasco Oil Company to earn more revenue from its oil supplies, he said. "While this project has now been postponed, , SOMO is seriously retreating its pricing mechanism".[/rtl]


    [rtl]"The experiment may have been aimed at discharging barrels of Iraqi crude before the seasonal maintenance of the refineries, especially as the immediate price of raw crude for the futures market is increasing," the London-based oil adviser, Reshon Economist, told Ihsan al-Haq. Means that SOMO may benefit from higher prices. "[/rtl]
    [rtl]"If Somo later decides to lengthen the period between reporting Asian customers to schedules and loading crude permanently, this may be an indication that the company is seeking to enhance its competitiveness in the face of other producers in the Middle East and Russia">[/rtl]


    [rtl]"Last year, the company also asked buyers to give their views on a proposal to change the benchmark price of its crude from the Platts platform to Oman's price on the Dubai Mercantile Exchange."[/rtl]


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