Home
[size=36]Sumo: The OPEC agreement affected the increase in revenues entering Iraq[/size]
Economie| 04:09 - 09/09/2022
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
Baghdad - Mawazine News
The Iraqi Oil Marketing Company "SOMO" confirmed today, Friday, that it had received requests to increase the quantities of Iraqi oil exported to Asia, while noting that the OPEC agreement affected the increase in revenues entering the country.
The company's general manager, Alaa Al-Yasiri, said that "Russia is currently present in Asia as a competitor, but it will not affect the presence of Iraq, as the Oil Marketing Company has contracted with major government companies in major crude oil consuming countries."
Al-Yasiri added, “Iraq is in contract with almost all government refineries in China, as well as with government refineries in India, and these countries are not willing to risk abandoning Iraqi crude oil because they are certain that Russian crude from an economic point of view is better for it to go to Europe because the distance The pipeline network and the cost of transportation all have effects, and if the problem between Russia and Ukraine ends, the Russian exporter does not prefer sending crude to Asia and will send it to Europe, while Iraq prefers sending its crude oil to Asia because they see that the future is with Iraqi crude and they will not give it up at a time when they are buying Quantities of markets in order to raise their stocks, but so far none of our customers has requested to cancel the contract, on the contrary, there is a request to increase quantities in Asia.”
And he added, "Iraq has not had a reduction for a while, and now it exports all the quantities available for export and there is no problem, and all the quantities produced in excess of the domestic need available for export are completely exported," noting that "the OPEC agreement affected raising the revenues that enter Iraq." .
He continued: "In previous periods, the revenue from exports to the Ministry of Finance ranged between one and a half billion and two billion before the agreement, but after it, prices began to recover and reached $60 and $70, and during the Ukrainian crisis, the price reached $100, so the revenue thus exceeded 11 billion." dollars a month, and now we've made $82 billion."
He pointed out that "
And he stated, "The seminars are large and the company invites all international companies to attend them," noting that "this year the seminar took place in Singapore, and Sumo met with all the companies that own the refineries and explained to them their mechanism of work and their marketing procedures, and also the meeting was held with our customers and they told us what they want in Next year, there will be an increase in quantities and a change in the type of crude oil purchased.”
He pointed out that "some companies may want to change heavy oil to medium and vice versa, and some companies have objections that must be taken into account with regard to fines, logistics and berths, and most important of all are the specifications of the crude sold," adding: "We have committees that form For the purpose of determining quantities and buyers for the coming year.
He noted that "Iraq for three years is the first supplier of crude in India, as it imports from many countries as one of the large countries, as well as China, but now it is said that this year will be the competitor to Iraq, Russia in this market, but Iraq is still the largest supplier to the market." ".
He continued: "Saudi Arabia is a major exporter and producer of crude oil and a very important competitor, and it has a presence in all markets through large investments, not only through the commercial relationship in buying and selling, but they have investments in various refineries in the world. Among their conditions in these investments is that the oil that is used in This refinery must be in a certain proportion purely Saudi, as it is a competing country, but the market needs Saudi and Iraqi oil.”
He emphasized, that "
He concluded by saying: "As for the ministerial meetings, the Saudi prince, the minister, and the one before him always communicate, considering that the Iraqi oil minister is very important and influential in making decisions, so most decisions are discussed with the ministers for the benefit of the two countries, since the benefit is mutual." Ended 29 / h
[You must be registered and logged in to see this link.]
» 9/29/23 Militia Man & Crew Iraq Dinar - International Contracts - Global - Natural - Wealth get rea
» The House of Representatives holds its session headed by Al-Halbousi
» The House of Representatives votes to add two items to its agenda
» Central Bank: The dollar price has nothing to do with filling the budget deficit
» Al-Sudani: True security is when we provide services to citizens
» The Central Bank intends to adopt four currencies instead of the dollar for external transfer
» Government determination to limit the rise in housing unit prices
» Deputy Prime Minister: Emphasizes the digitization of the banking system in Iraq
» Next Sunday, training for applicants for the “Riyadah” initiative will begin.
» Central Bank Governor: We are working to ban dealing in the dollar internally
» Al-Rafidain and Al-Rashid begin distributing pensioners' salaries for the month of August
» Al-Rafidain launches financial loans of up to 150 million dinars to employees and citizens
» The Region's Finance issues a schedule of salaries for its ministry's employees
» Parliamentary law discusses a number of draft laws
» The Central Bank is considering adopting the currencies of India, the Emirates, and Turkey for forei
» Al-Sudani: The scourge of drugs is no less dangerous than the challenges of ISIS terrorism
» Newspaper: The Pentagon Hospital in Germany treats American mercenaries who were wounded in Ukraine
» A study predicts the formation of a new supercontinent that will destroy humanity
» Al-Maliki's coalition: The Hamdaniya tragedy took the course of an electoral struggle between these
» Former Minister: The Khor Abdullah Agreement is a thing of the past and Baghdad must find a new form
» Including oil and gas.. A parliamentarian reveals the main reason behind not approving important law
» Trade determines a factor that contributes to controlling the prices of bread and ham
» With broad international participation...the second forum of the Islamic Organization for Food Secur
» Deputy Director of the Prime Minister's Office reviews the completion of the Sinbad Road and Atomic
» More than $777 million in sales from the Central Bank of Iraq last week
» Anticipation of a US decision against Türkiye requiring it to pay $602 million to Iraq
» "The Sleeping City"... the story of 10,000 workers whose livelihoods are under piles of scrap in eas
» Washington steps in and wants to resume exporting Kurdistan oil through Türkiye
» With hopes of approving the oil and gas law.. a “Turkish line” disturbs the relationship between Bag
» People of Al-Hamdaniya: ISIS failed to kill us, but political corruption succeeded in doing so
» After luring them... blackmailers were arrested in Baghdad
» The Minister of Electricity announces the complete completion of the connection with Jordan
» The Central Bank reveals a direction regarding the dollar: prohibiting dealing in it internally
» President Bafel Talabani recommends that the Union Bloc leave the conference and go to the voting se
» Deputy: Evaluation of federal government ministers takes place on a daily basis
» Between quality or not... A French report reveals new details about Baghdad's service projects
» Iraq Calls On Iran To Participate In Investment Projects To Establish Industrial And Free Zones Betw
» Economist: Double-digit inflation in Iraq, measured by real estate
» New details revealed regarding the “satellite Internet” project in Iraq
» The Dollar Is At The Forefront.. The Governor Of The Central Bank Opens The Thorny Files
» Iraq is facing drought by digging hundreds of wells to benefit from groundwater
» Integrity: Life imprisonment for the official of the strong cash register in the Real Estate Bank in
» Mr. Al-Hakim: The presence of governorate councils guarantees the representation of everyone and the
» The Netherlands sends dozens of soldiers and helicopters to Iraq
» Al-Alaq: The Central Bank is working to ban dealing in the dollar internally, and the electronic pla
» Minister of Immigration: We trust the government and its Sudanese president to preserve the unity of
» Frame: Ankara carried out more than 27 raids on the north during this September
» Parliament: Evaluation of Sudanese government ministers takes place on a daily basis
» Chambers of Commerce: The parallel market for the dollar will reach record levels
» Arrest of a group specialized in stealing electrical cables east of Fallujah
» The Central Bank announces that the rate of trade use of the dollar platform has increased by 95%
» Deputy: The central and southern regions are almost turning into a barren desert due to drought
» Minister of Immigration: Political parties are trying to exploit the Hamdaniyah tragedy in a disgust
» Al-Sudani supervises the opening of 146 schools and the rehabilitation of 1,009 schools in Iraq
» Iraq is the third largest importer from Turkey during the month of August, with a value of one billi
» The Governor of the Central Bank talks about 9 files, most notably the exchange rate and inflation
» Iraq is the second largest exporter of crude oil to India during September
» The judiciary clarifies the truth of the lawsuit filed against the religious authority Al-Sistani
» India prefers Iraqi oil over Saudi oil for this reason..
» Sudanese to Parliament soon.. A representative announces the completion of the procedures for interr
» Exchange rates rise again in Baghdad... 157 thousand for every 100 dollars
» Kurdistan's salary crisis "strikes" the balance of the quality of education...a continuous migration
» Interior Ministry: 90% of our facilities violate safety requirements and we cannot close them
» “Jubair Al-Jubouri” was brought in on charges of spending more than half a billion dinars in violati
» It includes 5 million seedlings.. Baghdad Municipality announces a plan to develop more than 100 new
» A threat raids flights in the skies of Iraq
» President Bafel Talabani recommends that the Union Bloc leave the conference and go to the voting se
» American report: Washington views Baghdad as a “contradictory partner” and “implicit enemy”
» The dollar continues to rise.. Learn about the exchange rates in Iraqi markets
» The countries that import Turkish goods the most during the month of August.. This is Iraq’s rank
» Reinforcing the Iraqi Dinar: A Shift in Iraq’s Monetary Policy
» Former MP: There is no “veto” on Iraq’s possession of air defense systems
» Financial waste by equipping an inoperative firefighting system worth $350,000 for the Oil Explorati
» UNHCR to Al-Furat News: There was no malfunction in the second simulation and things are going accor
» Commerce reveals the rates of completion of the electronic card modernization
» The plan details the most prominent aspects of government support to provide housing for poor famili
» 5 counterfeiters were overthrown at Baghdad International Airport
» Extension of application to central admission after the results of the second round
» With hopes of approving the oil and gas law.. a “Turkish line” disturbs the relationship between Bag
» Integrity monitors waste of public money and violations in oil company contracts in Basra
» Karbala refinery begins actual production
» The water issue with Tehran and Ankara has been resolved “half-way.” Do political problems hinder te
» “Al-Mawazi” ignores the government’s threat and rises above 155,000...evening dollar list - Urgent
» Integrity attacks Samarra Electricity employees. Find out their charges
» Sitting at home or working without pay...the US government shutdown gives employees a choice
» The Popular Mobilization Forces: We cut off all the “corridors of evil” between two governorates.. I
» Parliamentary Security shows ways to combat drugs in Iraq... 3 priorities
» The designer of the most powerful space rocket in the world dies
» Monitoring waste of public money and violations in oil company contracts in Basra
» America worsens the Ukraine war and agrees to additional aid to Kiev
» Launching the nomination form for the “Youth Ambassadors” program...these are its details
» The electricity delegation arrives in Saudi Arabia
» To support the national product...a parliamentary call to operate idle factories
» Fake projects: 9 billion dinars wasted from Dhi Qar Governorate’s reconstruction funds
» American magazine: The Ukraine war is not like Iraq, and the contradiction between them is greater
» Putin assigns a former Wagner commander to a "mission" in Ukraine
» Freeing a kidnapped foreign national and arresting her kidnappers in Baghdad
» Fourth for Kurdistan.. The House of Representatives meets tomorrow to vote on Halabja, Governorate N