[size=36]Oil: Signing a contract that provides revenues in excess of $ 700 million[/size]
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The Deputy Prime Minister for Energy and Minister of Oil, Thamer Ghadhban, on Wednesday, signed a contract for the transfer of black oil between the two companies (SOMO) and Iraqi oil tankers, pointing out that it will contribute to achieving additional revenues of more than (700) million annually.
"The ministry is keen to support the national companies and raise their performance and work to the ranks of international companies," Ghadhban said during his sponsorship of the signing ceremony.
The Deputy Prime Minister for Energy, said, "It is a new beginning and a white page and an important step to support and develop the national carrier represented by the Iraqi National Tankers Company, and to strengthen the role of the Oil Marketing Company (SOMO), which is exclusively responsible for contracting operations and marketing of oil and petroleum products in accordance with the law and instructions in force. Maximizing financial revenues supporting the federal treasury.
Ghadban added, "The contract provides for the Iraqi Oil Marketing Company (SOMO) to conclude contracts for marketing black oil from southern refineries (surplus), and the Iraqi Oil Tankers Company for the operations of transport, storage, loading and provision of tankers, the implementation of obligations towards contracts concluded by the company ( Sumo) with international companies in accordance with government instructions, and to achieve the highest financial revenues, "stressing" the expected additional revenues of more than (700) million dollars annually. "
He expected the oil minister, "the quantities of production of black oil from southern refineries next year to more than (20) thousand tons per day."
For his part, said the Director General of the Iraqi Oil Marketing Company (SOMO) Alaa Al-Yasiri, "This contract represents an important step to achieve additional revenues for the federal treasury, according to contracts and mechanisms established with international companies."
Abizaid and: "While the Iraqi oil tankers to transport operations from the Shuaiba refinery to the port and then unloading in a large tanker is a large reservoir in international waters, and then carry it to international companies contracted with (SOMO)."
For his part, said the Director General of the Iraqi Oil Tankers Agency Ali Qais that "this contract represents an important start to re-activity of the Iraqi national carrier represented by the company, and work to upgrade its work and development and expand its activity according to plans prepared for it."
Ministry spokesman Asim Jihad revealed that "the Iraqi Oil Marketing Company (SOMO) to conclude new contracts soon to transport oil products with both the shipping company and the land transport company, which is a form of the Ministry of Transport."
Jihad added, "This comes in an effort by the ministry to support, support and develop national companies and enhance their financial revenues."