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[ltr][rtl]History[/rtl] of [rtl]edits:: 2016/3/10 17:57 • 20 visits readable[/rtl][/ltr]
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[Wayne - Baghdad]
Oil Minister Adel Abdul Mahdi, Iraq denied granting certain discounts or selling oil below market rates, adding that Iraq sells oil in accordance with the contract system, rather than through direct sales.
He said in a statement received by all of Iraq [where] a copy of the "Iraq sells oil, similar to countries producing and exporting crude oil in the region, according to well-known and followed for decades rules, generally several for sale mechanisms there, but the most important and most frequently used are two mechanisms for sale, first as called direct sales Spot market and the second sales contract Term contract, sells and Iraq, according to the second rule, explaining that the reason is to deal with serious and steadfast customers. "
"The customers Iraq consisted of Major discreet international companies that deal in oil markets, and is generally contracting with companies that do not have or are related to a par with well-known accepted, all to protect the markets of Iraq and to get away from the daily speculation, however, depends a list of buyers who own refineries in the world ".
He said Abdul-Mahdi, that "contracts are generally for a particular stretch where contractors booked their shares for a year, or even for 10 years, and sets prices according to bound him market prices charged on the day of loading patched pricing company Iraqi Marketing OSP]".
He pointed out that "the suspicion that falls by some in terms of price, speaks about Iraq sells less than world prices, or give discounts, is that he listens to the news and is advertised price in the releases is the price that must be the country received by the issuer, in so many mistakes, the most important releases prices are the prices signal or the rates and not a final sale prices. "
He added that "each with its own price area, and Iraq supports three markets, namely [East and Europe and the Americas, as the oils prices vary from one quality to another, according to degrees of intensity [API] and Ahamodah factors, competitive, and carry some transport fares, and other factors, make up the difference Price for the reference oil on the market. "
And between the Mahdi that "the Iraqi pricing based on global prices, the rate of crudes foundation or crudes reference to the European market, or the market of the Americas, or the rate to the price of the east, and these oils, are connected by crudes region or market that resembles some of them of Iraqi crude oil, and thus rely in determining the price Iraqi oil, up or down, depending on the quality of Iraqi oil and other conditions. "
He noted that "in the first ten days of each month to meet [Committee pricing], headed by the oil minister in the ministry's marketing company, is studying the global market data, and all the indicators and factors present and future in accordance with the global program are working with all the big companies to examine the qualitative difference between the oil-signal and oil-like in the market concerned, as well as the competitive aspects of the other, the Commission and up to the final decision to the official rate declared next month in the three markets, but the two types of oil Basra [heavy and light, and for different ports, oil of Kirkuk crude via the Ceyhan, which reported to the companies, and have the foundation for accountable for the month in question and the market in question. "
He stressed that "there is no contract with each shipment, but the price determines According Day download monthly average or five bulletins prices, rate and transport fares to European markets and the US and qualitative difference to the technical specifications, and did not get so far, according to the data, a difference of one day in the pricing of oil as far as it's that issue.
He said the oil minister that "Iraq sold last February oil in all markets, and the various qualities, and all outlets, for example, a rate of $ 23.729 / barrel, while the price of the three markets, the rate of [Asia, Europe, America, is $ 29.898 / barrel, a difference of $ 6 / barrel, almost, which is very close to an increase or a decrease, the rates of the Gulf states and Iran, and this mechanism is established by all exporting countries.
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Oil Minister denies granting discounts or sales at less than the market price
[/ltr][ltr][rtl]History[/rtl] of [rtl]edits:: 2016/3/10 17:57 • 20 visits readable[/rtl][/ltr]
[ltr][You must be registered and logged in to see this image.]
[Wayne - Baghdad]
Oil Minister Adel Abdul Mahdi, Iraq denied granting certain discounts or selling oil below market rates, adding that Iraq sells oil in accordance with the contract system, rather than through direct sales.
He said in a statement received by all of Iraq [where] a copy of the "Iraq sells oil, similar to countries producing and exporting crude oil in the region, according to well-known and followed for decades rules, generally several for sale mechanisms there, but the most important and most frequently used are two mechanisms for sale, first as called direct sales Spot market and the second sales contract Term contract, sells and Iraq, according to the second rule, explaining that the reason is to deal with serious and steadfast customers. "
"The customers Iraq consisted of Major discreet international companies that deal in oil markets, and is generally contracting with companies that do not have or are related to a par with well-known accepted, all to protect the markets of Iraq and to get away from the daily speculation, however, depends a list of buyers who own refineries in the world ".
He said Abdul-Mahdi, that "contracts are generally for a particular stretch where contractors booked their shares for a year, or even for 10 years, and sets prices according to bound him market prices charged on the day of loading patched pricing company Iraqi Marketing OSP]".
He pointed out that "the suspicion that falls by some in terms of price, speaks about Iraq sells less than world prices, or give discounts, is that he listens to the news and is advertised price in the releases is the price that must be the country received by the issuer, in so many mistakes, the most important releases prices are the prices signal or the rates and not a final sale prices. "
He added that "each with its own price area, and Iraq supports three markets, namely [East and Europe and the Americas, as the oils prices vary from one quality to another, according to degrees of intensity [API] and Ahamodah factors, competitive, and carry some transport fares, and other factors, make up the difference Price for the reference oil on the market. "
And between the Mahdi that "the Iraqi pricing based on global prices, the rate of crudes foundation or crudes reference to the European market, or the market of the Americas, or the rate to the price of the east, and these oils, are connected by crudes region or market that resembles some of them of Iraqi crude oil, and thus rely in determining the price Iraqi oil, up or down, depending on the quality of Iraqi oil and other conditions. "
He noted that "in the first ten days of each month to meet [Committee pricing], headed by the oil minister in the ministry's marketing company, is studying the global market data, and all the indicators and factors present and future in accordance with the global program are working with all the big companies to examine the qualitative difference between the oil-signal and oil-like in the market concerned, as well as the competitive aspects of the other, the Commission and up to the final decision to the official rate declared next month in the three markets, but the two types of oil Basra [heavy and light, and for different ports, oil of Kirkuk crude via the Ceyhan, which reported to the companies, and have the foundation for accountable for the month in question and the market in question. "
He stressed that "there is no contract with each shipment, but the price determines According Day download monthly average or five bulletins prices, rate and transport fares to European markets and the US and qualitative difference to the technical specifications, and did not get so far, according to the data, a difference of one day in the pricing of oil as far as it's that issue.
He said the oil minister that "Iraq sold last February oil in all markets, and the various qualities, and all outlets, for example, a rate of $ 23.729 / barrel, while the price of the three markets, the rate of [Asia, Europe, America, is $ 29.898 / barrel, a difference of $ 6 / barrel, almost, which is very close to an increase or a decrease, the rates of the Gulf states and Iran, and this mechanism is established by all exporting countries.
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