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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


URGENT Saudi commercial delegation arrives in Baghdad

rocky
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delegation - URGENT Saudi commercial delegation arrives in Baghdad Empty URGENT Saudi commercial delegation arrives in Baghdad

Post by rocky Wed 13 Mar 2019, 3:44 pm

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URGENT Saudi commercial delegation arrives in Baghdad

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[rtl]Release date: 2019/3/13 20:58 • 320 times read[/rtl]
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{Baghdad: Al Furat News} A large delegation from Saudi Arabia, representing trade and investment, arrived at Baghdad International Airport.
The delegation was received by Minister of Commerce Mohammed Al-Ani


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rocky
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delegation - URGENT Saudi commercial delegation arrives in Baghdad Empty A large Saudi economic delegation arrives in Baghdad and the Minister of Commerce receives him

Post by rocky Wed 13 Mar 2019, 3:57 pm

[size=36]A large Saudi economic delegation arrives in Baghdad and the Minister of Commerce receives him[/size]

Economy | 08:22 - 13/03/2019

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BAGHDAD - A 
large economic delegation from Saudi Arabia arrived Wednesday at Baghdad International Airport, while Commerce Minister Mohammad Hashim al-Ani received him. 
"A large economic delegation arrived at Baghdad International Airport," the trade media said in a statement received by Mawazine News. "Trade Minister Mohammed Hashem al-Ani was received by the Saudi delegation." 
Al-Ani said that "the visit of the Saudi economic delegation to Baghdad is a confirmation of the government's approach to openness to neighboring countries and the continuation of economic and trade partnerships." 
He added that "this visit will strengthen the continuation of meetings of the Iraqi-Saudi Coordination Council, which was founded two years ago." 
It is hoped that the Saudi delegation will meet Prime Minister Adel Abdul Mahdi.
On October 22, 2017, Iraq and Saudi Arabia signed the memorandum establishing the Coordinating Council between the two countries


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delegation - URGENT Saudi commercial delegation arrives in Baghdad Empty Iraq's Sumo gives up partners and makes its way into the oil trade

Post by rocky Wed 13 Mar 2019, 4:01 pm

[size=36]Iraq's Sumo gives up partners and makes its way into the oil trade[/size]

Economy | 01:34 - 13/03/2019

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BAGHDAD ( 
Reuters) - Iraqi oil marketing company SOMO has canceled two joint ventures and cut contracts with some European customers to seek to sell more of its oil to suit its needs, trade sources and the oil sector told Reuters. 
After years of watching major oil companies and independent trading companies benefit from major business operations, state oil companies in North Africa and the Middle East decided to take away what they saw as potential lost revenues. 
The main solution was the establishment of joint ventures to acquire the necessary skills, followed by the Sultanate of Oman, which initially cooperated with the World Trade Company in the last decade. The Omani government eventually purchased the joint Omani project.
Over the past few years, Algeria, the United Arab Emirates and Iraq have also taken the path of joint ventures, while Saudi Arabia has established a wholly owned commercial arm from the outset. Kuwait has held talks with foreign companies on a joint venture. 
"That's what they always aim at," one source said. Learning from seasoned players and founding a company on its own. " 
Four sources said Somo had set up a similar joint venture in 2017 with Litasco, the commercial arm of Russian Lukoil, but left it at the end of 2018. The sources said a similar arrangement with China's Chinhwa Oil was also abandoned. 
Somo has yet to respond to Reuters requests for comment. Leitasco declined to comment.
Separately, Somo briefly sold shipments on the Dubai Mercantile Exchange and across the Global Plats Standard & Poor's platform. The company is currently selling crude more actively on its own. 
"There are about five or six of them, all of them are young, enthusiastic and trained abroad," a European trade source said, referring to former employees of a joint venture of Sumo. 
Adjustments by the Iraqi government led the shift, according to sources. 
Adjustments were made to the Somo leadership in September 2017, under the former Iraqi government. Alaa al-Yasiri replaced Falah al-Amiri as president of Sumo and became Iraq's representative to the OPEC board of governors. 
In October 2018, Thamer Ghadhban became oil minister. He pledged to look into ways to reform the sector and has since made changes among his ministry staff.
One source familiar with Sumo's thinking said the company was considering how best to exploit the knowledge of its "managing team" - Somo employees who worked on the joint venture on oil trade. 
The State Oil Marketing Company believes that it can only carry out its trade operations at present. 
"We need to re-evaluate what we have gained and how to employ it in our activity. We have already started with the immediate announced auctions. "


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