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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

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    The difference between the subsidized price and the global price of Iraqi oil derivatives activates

    Rocky
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    The difference between the subsidized price and the global price of Iraqi oil derivatives activates Empty The difference between the subsidized price and the global price of Iraqi oil derivatives activates

    Post by Rocky Thu 20 Jan 2022, 6:26 am


    [size=30]The difference between the subsidized price and the global price of Iraqi oil derivatives activates smuggling...the government is a "victim of deception" and sells fuel to smugglers

    20-01-2022
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    Yes Iraq: Baghdad

    In an operation described as a heavy blow, the Energy Police Directorate was able to arrest 12 accused of smuggling oil and its derivatives, at a time when Iraq's annual losses from black oil smuggling are estimated at more than one billion dollars annually.
    And the Ministry of Interior stated in a statement that "with qualitative operations in various governorates of Iraq, the Energy Police Directorate struck the gangs smuggling oil and its derivatives, as the directorate was able to throw 12 accused in cases of smuggling oil and its derivatives."
    The statement added that "eight suspects were arrested in the control of the Al-Batha Oil Police in Nasiriyah Governorate, loaded with oil product inside iron drums, without any official approvals, and during another security operation, an unofficial fuel station and a walker used to smuggle oil and its derivatives in Kirkuk Governorate, which resulted in The operation resulted in the arrest of three accused, in addition to seizing the contents of the station and the den.”
    The statement indicated that "on another duty, the detachments of the Diwaniyah Oil Police Station were able to arrest an accused and seize his wheel, which was carrying 128 iron drums, a capacity of 200, loaded with an oil product, without any official approvals."
     
    And by calculations about what Iraq loses and what the black oil derivative (one of the products of crude oil refining) provides from financial profits to smugglers and a loss to Iraq as a result of the price difference between what Iraq sells to factories at a subsidized price and what this product is sold in outside Iraq, which encourages smuggling.
    Iraq produces 40,000 tons per day of black oil, equivalent to 280,000 barrels per day, while Iraq exports 14,000 tons, or about 100,000 barrels per day, while the remaining 26,000 tons, or 180,000 barrels, are sold to factories and factories for local consumption.
    Iraq sells or exports the 14 thousand tons abroad at 466 dollars per ton, which means obtaining about 7 million dollars per day.
    On the other hand, black oil is sold by the Oil Products Distribution Company to plaster and brick factories, other factories, and local consumption, not exceeding $170 a barrel, which prompts smugglers to open fake factories to buy black oil at prices subsidized by the state, and sell it for more than $466 a barrel abroad.
    According to the oil expert, Nabil Al-Marsoumi, the domestic consumption of 26,000 tons per day is an exaggerated number, and consumption does not reach a small part, and the rest goes to smuggling.
    He notes that "in fact, the local consumption is much less than 26 thousand tons, and this means that a large part of the black oil is currently being smuggled through tanks, particularly to the Kirkuk governorate, especially the Kifri area, while part of the production of one of the refineries specialized in producing black oil for local production is smuggled to Bandar." Abbas through Sulaymaniyah.
    He added: “The concerned authorities have granted licenses to oxidized asphalt factories, which numbered 14 factories, each of which supplies between 500 to 1000 tons of black oil, and it seems that there are fake factories receiving their shares of black oil, as the number of plaster factories in one of the governorates reached 50 A factory, each factory receives a thousand tons per month, and this means that there are factories that actually use black oil in their local production, while there are other factories that sell part of their share to other parties that smuggle it abroad, in addition to the presence of other fake factories that receive their share of black oil and then it is smuggled after This leads to a significant financial loss for Iraq of no less than 1.7 billion dollars annually.”
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