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Sumo: We received requests from Saudi Arabia to buy Iraqi oil
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Economy News - Baghdad
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Added 03/15/2024 - 9:34 PM
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Economy News - Baghdad
The Iraqi Oil Marketing Company, SOMO, revealed that it had received requests from Saudi Arabia to purchase Iraqi oil.
The assistant president of SOMO, Ali Nizar, said, “SOMO has received requests to purchase Iraqi oil, to supply the refineries they own in East Asia.”
He added that East Asian countries, especially China and India, depend on Iraqi oil, stressing that the largest refinery in India has a contract with Iraq to supply it with oil for 10 years.
He pointed out that Iraq's exports currently range between 3.2 million barrels per day to 3.3 million barrels per day, from the southern fields, stressing the necessity of developing marine pipelines.
Nizar stated that there are negotiations with the Sultanate of Oman to extend a pipeline to the Arabian Sea, and it needs financing that may be from a Chinese loan.
Views 184
Added 03/15/2024 - 9:34 PM
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