Iraq makes $ 174 million from selling black oil shipments
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Economy News - Baghdad
The Ministry of Oil announced, on Tuesday, to achieve financial revenues from marketing black oil by selling more than four immediate shipments at a value of more than $ 174 million.
The Director General of the Iraqi Oil Marketing Company (SOMO) Alaa Al-Yasiri said in a statement seen by "Al-Iqtisad News", that "the company was able to export and market 4 immediate shipments of black oil by two shipments during the month of December 2019 and two for the month of January 2020, at one million Barrels for each shipment according to the new mechanism approved by the Supreme Council for Combating Corruption, with total revenues of 174 million and 400 thousand dollars.
Al-Yasiri added, "The total revenues from marketing black oil according to the new mechanism achieved a financial increase of $ 81 million for only four shipments compared to the previous mechanism."
It is noteworthy that the contracts concluded by the marketing company with the companies of maritime transport and land transport and the contracts concluded with the Iraqi oil tankers and the distribution of oil products within the formations of the Ministry of Oil aim to enhance the participation of local companies in the transportation of oil products, and that these contracts contribute to strengthening the financial capabilities of these companies, and achieving Additional financial revenue.