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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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    Iraq looks to export five million barrels of oil in June to pay dues global companies

    Rocky
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    • Post n°1

    Iraq looks to export five million barrels of oil in June to pay dues global companies Empty Iraq looks to export five million barrels of oil in June to pay dues global companies

    Post by Rocky Tue 31 May 2016, 4:10 am

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    One of Iraq's oil export ports
    Iraq looks to export five million barrels of oil in June to pay dues global companies


    Author: HAA, HH 
    Editor: BK, HH 05/30/2016 18:09 Number of Views: 871 



    Long-Presse / Baghdad
    It revealed on exports of Iraqi oil sources, on Monday, for the determination of Iraq to export five million barrels to its customers during the month of June, while attributed the reason to the "pressures faced by the international oil companies operating in the fields to pay their dues before obtaining the IMF loan."
    Iraq is the second largest oil producer in OPEC, and is working with other members of the organization, such as Saudi Arabia, Kuwait, the UAE and Iran, to increase their oil exports during the third quarter of the current 2016, as Iraq is trying to overcome the standard rate of current exports amounting to up to three million and 370 thousand barrels per day, through next June, so Havea footsteps of other oil producers in the Middle East to increase their shares in the market ahead of the meeting of the Organization of petroleum exporting countries members (OPEC) early this month.
    According to three sources familiar with oil, followed up (range Press), the Iraqi Oil Marketing Company (SOMO), has allocated five million barrels of additional Basra Light crude, to be downloaded during the month of June, for the benefit of partners from the oil producers working in Iraq, such as Petro Jayna and Italy's ENI and Russian Lukoil.
    It is noteworthy that Iraq reimburse dues international oil companies which signed a service contract with them, with crude oil rather than cash, as a result of falling oil prices, and caused its budget deficit.
    The news agency Reuters, from a petroleum sources, as I followed (the long-Presse), as saying that "a matter of the anticipated increase in June exports related causes pressure by the oil companies, which calls for entitlement according to its contracts with SOMO," adding that "Iraq has a commitment to pay the dues of oil companies as a condition of granting a loan of the international Monetary Fund. "
    It is noteworthy that Iraq is seeking international loans of $ 15 billion soft interest, to overcome the financial crisis caused by the deterioration of world oil prices and the repercussions of the war against the (Daash).

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