By John Lee. Iraq plans to export a record volume of crude oil from its Gulf ports in June, reports Reuters. The State Oil Marketing Organization (SOMO) has reportedly allocated over 3.1 million bpd of Basra crude to buyers in a preliminary June loading programme, up from the usual monthly total of between 2.6 million […]
Tag Archives | State Oil Marketing Organisation
Turkish Refiner to Buy Kurdish Crude via SOMO
By John Lee. Turkish refiner Tupras is to buy crude oil from Iraq Kurdistan sold by the Baghdad's State Oil Marketing Organisation (SOMO). The company's Deputy General Manager, Hasan Tan, told reporters the oil will be sent by pipeline to the Turkish Mediterranean port town of Ceyhan. The announcement comes a week after Baghdad and […]
Tags: Iraq Oil Exports News, SOMO, State Oil Marketing Organisation, State Oil Marketing Organization, Tupras, Turkey
Oil Exports Fall in August
By John Lee. Reuters reports that Iraq's oil exports fell from $7.8 billion in July to $7.1 billion in August. Citing sources at the State Oil Marketing Organisation (SOMO), the report said that 73.6 million barrels of oil were exported in August at an average price of $97.4 per barrel, down from $102.8 in July. […]
The Oil Will Continue to Flow
By Padraig O'Hannelly. The Kurdistan Regional Government (KRG) has upped the ante in the continuing dispute with Baghdad over oil export revenues. In response to what it describes as "the Iraqi federal government ... not sharing revenues in accordance with the Iraqi Constitution", the KRG has threatened to take legal action against anyone who buys […]
Tags: Iraq Oil Exports News, KRG, Kurdish Independence, Kurdistan News, oil revenues, SOMO, State Oil Marketing Organisation
KRG Warns SOMO Customers
The Kurdistan Regional Government (KRG) threatened on Wednesday to take legal action against buyers of Iraqi oil unless the autonomous region is paid its share of revenue from any sales. The full text of the statement from the KRG follows: Under Article 112 of the Iraqi Constitution, the Iraqi federal government is legally required to […]
Iraq Finalises Gasoil Term Contract
By John Lee. Vitol and Glencore have finalised term contracts to sell over 1.5 million tonnes of gasoil to Iraq's State Oil Marketing Organisation (SOMO), reports Reuters. Vitol will supply four cargoes of 500 ppm sulphur gasoil, along with three cargoes from Glencore, through 2014 at a premium of $7.37 a barrel over Middle East quotes […]
Iraq Offers Longer Credit to India
By John Lee. The head of refineries at Hindustan Petroleum (HPCL) has told Reuters that Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014. B.K. Namdeo added: "Iraq is very positive. They are willing to raise credit period to 60 days and waive […]
Tags: Hindustan Petroleum (HPCL), india, Indian Oil Corporation, Iraq Oil Exports News, SOMO, State Oil Marketing Organisation
Director of SOMO Reported Killed
According the a report from Aswat al-Iraq, the Director General of Iraq’s State Oil Marketing Organisation (SOMO), whom it names as Hussein Jamal Abdullah, has been shot dead in Baghdad. The attack was carried out by a group of armed men close to west Baghdad’s People’s Stadium. A colonel in the Iraqi Army has also […]