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Oil Determines the percentage of planned quantities exported for 2019 to world markets

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Oil Determines the percentage of planned quantities exported for 2019 to world markets

Post by claud39 on Tue Nov 27, 2018 7:08 am


 Oil Determines the percentage of planned quantities exported for 2019 to world markets


Economy News Baghdad

The Ministry of Oil confirmed on Tuesday its keenness to adopt technical and economic standards in the mechanism of marketing crude oil to the world markets and to achieve the highest revenues.
The official spokesman of the ministry Assem Jihad said in a statement read by "Economy News" that the ministry "approved the allocation of quantities for the new contracts for companies buying Basra crude oil light and heavy and Kirkuk crude oil for the year 2019, adding that" has been laid the foundations and mechanisms of marketing and economic vision The strategy adopted by the Oil Marketing Company (SOMO) in the allocation of quantities available for export and according to the importance of each market in terms of volume of demand and the financial return achieved to sell a barrel.
"The Deputy Prime Minister for Energy and Oil Minister Thamer Abbas Ghadhban directed a balanced policy in dealing with the global oil market, to maintain the stability of markets and to ensure and achieve the interest of Iraq's economic."
He pointed out that the ministry has set the rates of the main international markets of Iraqi crude oil exports. The percentage of the total quantities of the total quantities planned for export next year is 2019 for the Asian market (67%), for the European market (20%) and for the US market (13%).

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