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Sumo to Shafak News: Our oil exports to European markets have risen
Shafaq News/ The Oil Marketing Company "SOMO" announced on Sunday that Iraqi exports to European markets have increased, noting that the Asian market is the largest in absorbing its oil exports.
The company said in response to a message sent by Shafak News Agency; It "adopts a strategy of diversification and obtaining market shares in all global markets, where SOMO depends on allocating the quantities available for export to the markets (Asia, Europe and America) and according to the importance of each market in terms of the volume of demand and the financial return achieved for selling one barrel in a sustainable manner."
And she added, "The largest percentage and the most quantity goes to the Asian market and the rest goes to the European and American market, relying on careful analysis of the market situation and the adoption of a balanced policy in dealing with the global oil market and the balances of supply and demand to maintain market stability in a way that guarantees and achieves Iraq's economic interest."
And she indicated that "it worked, and for the purpose of optimal investment of the marketing opportunity currently available in the European market in light of the Russian-Ukrainian war and its repercussions on the European market share. .
One of the traders, S&P Global Platts, stated that they "purchased Kazakhstan's CPC Blend and Iraq's Basrah Medium in order to run them together to produce crude similar to Russian Urals to supply futures buyers to Europe."
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The company said in response to a message sent by Shafak News Agency; It "adopts a strategy of diversification and obtaining market shares in all global markets, where SOMO depends on allocating the quantities available for export to the markets (Asia, Europe and America) and according to the importance of each market in terms of the volume of demand and the financial return achieved for selling one barrel in a sustainable manner."
And she added, "The largest percentage and the most quantity goes to the Asian market and the rest goes to the European and American market, relying on careful analysis of the market situation and the adoption of a balanced policy in dealing with the global oil market and the balances of supply and demand to maintain market stability in a way that guarantees and achieves Iraq's economic interest."
And she indicated that "it worked, and for the purpose of optimal investment of the marketing opportunity currently available in the European market in light of the Russian-Ukrainian war and its repercussions on the European market share. .
One of the traders, S&P Global Platts, stated that they "purchased Kazakhstan's CPC Blend and Iraq's Basrah Medium in order to run them together to produce crude similar to Russian Urals to supply futures buyers to Europe."
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