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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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OPEC obliges Iraq to raise its oil production ceiling

rocky
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OPEC obliges Iraq to raise its oil production ceiling Empty OPEC obliges Iraq to raise its oil production ceiling

Post by rocky Tue 16 Aug 2022, 4:31 am

[size=46]OPEC obliges Iraq to raise its oil production ceiling[/size]
Economie
10:39 - 08-16-2022
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The Oil Marketing Company (SOMO) announced, on Tuesday, Iraq's commitment to the decisions of the Organization of Petroleum Exporting Countries (OPEC) to increase oil production.
The company's general manager, Alaa Khader al-Yasiri, told the official newspaper, "The Organization of Petroleum Exporting Countries (OPEC) recently obligated Iraq to increase its oil exports to 3 million and 800,000 barrels per day," noting that "this increase cannot affect the strategic oil reserves."
He added that "the increase in Iraq's exports is directly proportional to the increase in production levels planned within the (OPEC) agreement and the countries allied with it."
And he indicated that "the amount of oil exported for the month of July amounted to 102 million and 385 thousand and 49 barrels, with initial revenues of 10 billion and 541 million and 594 thousand and 258 dollars."
Al-Yasiri explained that “the company’s policy is limited to its dealings with companies that own refineries, to achieve the fair value of Iraqi crude oil sales, as it markets crude oil and gas for the purpose of reaching its goals by contracting to sell crude oil available for export with standard contracts that apply to all customers according to approved and well-known standards in the global market. And in light of the quantities available for export and a unified price formula for all buyers within the same market, known as the official announced price.”

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