Iraq may build Oil Storage in Japan, South Korea

By John Lee.

Reuters reports that Iraq is studying the possibility of building crude oil storage facilities in South Korea and Japan.

Alaa al-Yasiri, head of the State Oil Marketing Organization (SOMO), said the move is part of a plan to increase sales to Asian clients:

“SOMO’s new strategy is to form trade arms in Asian markets to maximize profits and boost crude shipments to Asian markets.”

More here from Reuters.

(Source: Reuters)

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