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[size=36]Oil: Iraq aims to increase the financial value of its oil[/size]
Economie| 11:47 - 04/09/2021
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Baghdad - Mawazine News
The Ministry of Oil confirmed today, Friday, that Iraq aims to increase the financial value of its oil.
The Undersecretary of the Ministry of Oil for Extraction Affairs, Karim Hattab, said, "This increase aims to achieve the highest financial revenues for the state treasury because it is directly dependent on the revenues obtained from the sale of oil," pointing out that "the Iraqi Oil Marketing Company (SOMO) adopts a known mechanism in the global oil market from During contracts with well-known international companies, they own the refineries and deal with the quality of Iraqi oil. "
Hattab added that "the mechanism that SOMO follows in selling oil is through dealing with companies directly through letters and official e-mails, and does not deal with any intermediary companies," noting that "the expected quotas for export are allocated to companies annually by a council headed by the Minister of Oil." And it includes the ministry's undersecretaries, the general manager of the oil marketing company, the concerned departments in (SOMO) as well as the directors of the supervision and legal departments in the ministry and others.
And that "the largest importers of Iraqi oil are China and India, then other countries and companies from Asia, Europe and the United States." Ended 29 / h
The Ministry of Oil confirmed today, Friday, that Iraq aims to increase the financial value of its oil.
The Undersecretary of the Ministry of Oil for Extraction Affairs, Karim Hattab, said, "This increase aims to achieve the highest financial revenues for the state treasury because it is directly dependent on the revenues obtained from the sale of oil," pointing out that "the Iraqi Oil Marketing Company (SOMO) adopts a known mechanism in the global oil market from During contracts with well-known international companies, they own the refineries and deal with the quality of Iraqi oil. "
Hattab added that "the mechanism that SOMO follows in selling oil is through dealing with companies directly through letters and official e-mails, and does not deal with any intermediary companies," noting that "the expected quotas for export are allocated to companies annually by a council headed by the Minister of Oil." And it includes the ministry's undersecretaries, the general manager of the oil marketing company, the concerned departments in (SOMO) as well as the directors of the supervision and legal departments in the ministry and others.
And that "the largest importers of Iraqi oil are China and India, then other countries and companies from Asia, Europe and the United States." Ended 29 / h
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