[size=36]Sumo answers.. Did India give up Iraqi oil in exchange for Russia?[/size]
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The Oil Marketing Company (SOMO) clarified today, Friday, the fact that India has abandoned importing Iraqi oil and heading towards Russian oil, while confirming that it has major contracts with the largest Indian companies that own refineries in India.
The director of the company, Alaa Khader Al-Yasiri, said, "Since the outbreak of the Russian-Ukrainian war, global crude oil prices have been significantly affected, as they rose rapidly towards record numbers that have not been recorded for many years, which prompted many countries buying crude oil to search for less expensive alternatives to avoid the losses caused. about the price hike.
Al-Yasiri added, "Several countries, including India, found that Russian crude oils, which are sold at very large price discounts, as a substitute for competing crude oils, as India recorded a significant increase in the purchase of Russian oil quantities during the month of March, exceeding their levels recorded for the past 2021."
He pointed out that "the Oil Marketing Company has succeeded, since 2017, to be the owner of the largest marketing share in the Indian market, after great efforts made and are still being made by the marketing cadres in this company," noting that "despite the rise in Russian oil imports to India, Iraq is not It continues to maintain the first positions in the Indian market, as this company has large contracts with the largest Indian companies that own refineries in India (government and private).
And he stressed, "The study of market trends is continuing to follow up on any developments that occur and develop appropriate solutions for them, in a manner that guarantees the preservation of the marketing share of Iraqi crude oils in India." Ended 29 / h