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Iraq signs contracts to sell all of its oil exports for 2019

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Iraq signs contracts to sell all of its oil exports for 2019

Post  claud39 on Mon Dec 17, 2018 7:06 am

http://economy-news.net/content.php?id=14782



Iraq signs contracts to sell all of its oil exports for 2019


17/12/2018











Economy News _ Baghdad



The head of the Iraqi oil export company "Sumo" Alaa Yasiri, on Monday, that his country contracted to sell the full quantities of oil destined for export during the year 2019, for companies in Asia and Europe .. 
According to data on the website of the Iraqi Oil Export Company, 67% of crude exports Iraqi market for 2019 will go to the Asian markets, while 20% of exports to European markets, and 13% to the US market. 
"All Iraqi oil exports for the coming year have been sold at good prices to consumers in several countries in Asia and Europe, with the lowest export discounts, without revealing the total number of exports in the coming year," Yasiri told the Iraqi News Agency (INA) . 
He explained that the sale of these quantities of oil exports will enhance the balance of the state budget, and the national economy, noting that it was agreed to adopt the price of a barrel per month mainly for the sale.
The director of the Iraqi oil export company, that the success of Iraq in the marketing of oil quantities comes after a competition between oil exporters from OPEC and beyond. 
He pointed out that the contracting companies with Iraq are now by virtue of the obligation to buy oil after the signing of contracts that were based on international standards in the purchase while maintaining prices at the time of rise and fall. 
Iraq expects to export 3.8 million barrels per day, including 250 thousand barrels of fields in the northern province of the country, in 2019, and the average exports currently about 3.5 million barrels per day. 
According to the Iraqi Oil Ministry, the average oil exports from southern ports on the Gulf reached 3.48 million barrels per day in October compared to 3.56 million barrels per day of crude oil in September.

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