SOMO signs a contract with Iraqi oil tankers to achieve $ 700 million annually

by **claud39** on Wed Nov 13, 2019 7:26 am

SOMO signs a contract with Iraqi oil tankers to achieve $ 700 million annually

13/11/2019

Economy News - Baghdad

SOMO and the Iraqi oil tankers signed a contract to transport black oil on Wednesday.

This contract, according to a statement from the Ministry of Oil, will save $ 700 million annually for state imports.

The signing ceremony was attended by Oil Minister Thamer Ghadhban.

He added, "The contract provides for the Iraqi Oil Marketing Company (SOMO) to conclude contracts for marketing black oil from southern refineries (surplus), and the operations of the Iraqi oil tankers to transport, storage, loading and provision of tankers, the implementation of obligations towards the contracts concluded by (SOMO) with International companies in accordance with government instructions, and to achieve the highest financial revenues. "

Ghadhban stressed that "the expected additional revenue exceeds 700 million dollars annually," and expected "the quantities of black oil produced from refineries of the south next year to more than (20) thousand tons per day."

For his part, said the Director General of the Iraqi Oil Marketing Company (SOMO) Alaa Al-Yasiri, "This contract represents an important step to achieve additional revenues for the federal treasury, in accordance with contracts and mechanisms established with international companies."

Ministry spokesman Asim Jihad revealed that the Iraqi Oil Marketing Company (SOMO) to conclude new contracts soon for the transportation of petroleum products with both the shipping company and the Land Transport Company, a form of the Ministry of Transport.

http://economy-news.net/content.php?id=18212

by **claud39** on Wed Nov 13, 2019 6:55 pm

What is the secret of the sumo contract with the Chinese company "Zenhao" worth $ 10 billion?

SOMO signs a contract with Iraqi oil tankers to achieve $ 700 million annually %D8%B3%D9%88%D9%85%D9%88

SOMO signs a contract with Iraqi oil tankers to achieve $ 700 million annually %D8%B3%D9%88%D9%85%D9%88

Iraq Today published the following report:

In the late days of Haider al-Abadi's government, corrupt or suspicious parties concluded to transfer a suspicious agreement with a Chinese company called Zinhao for the purpose of selling Iraqi oil in return for these parties to receive commissions from this company, and when the control and parliamentary parties knew about the corruption of this contract, they pressed to cancel it. This suspicious agreement was canceled.

Now, as the popular protest continues, and the papers are mixed together, a number of influential people are exploiting this atmosphere to revive and even sign this suspicious agreement again.Private information indicates that the Director General of SOMO and with the blessing of the Minister of Oil was able to restore a suspicious agreement with this suspicious company. It will be borrowed by 10 billion US dollars, reimbursed by 200 thousand barrels of oil a day, and strange that this new contract has been a formality change only, while the previous contract provides for the delivery of oil to Iraq to this company and then receive money for these shares after Placed in private banks, it became in the new contract, received before handing over, and it seems that the "group" arranged irrevocably, so that they will receive ten billion US dollars in advance, so they commit the Iraqi state to complete the paragraphs of the suspicious contract despite the noses of everyone.

Here, some general managers in the Ministry of Oil recall, repeated statements made by the Director of SOMO Alaa Al-Yasiri in almost every meeting (operations) in the Ministry of Oil, announcing the presence of four billion US dollars at the Commercial Bank of Iraq, and any company can Benefit from these funds with a simple interest paid to this bank, has pledged Yasiri to implement this offer and provide assistance to the companies of the Ministry, as - Alaa Al-Yasiri - Vice President of the Commercial Bank of Iraq! Indeed, Nassiriyah Oil Company had benefited from the offer of Yasiri at the time, and already obtained a financial loan exceeded $ 100 million, with a low interest rate.

We wanted to ask and say: Why did the director of SOMO Alaa Al-Yasiri borrow from the Iraqi Najjar Bank the four billions available in the treasury of the bank where he himself is the vice president, if the ministry really needs such an amount, without going to borrow from Chinese company Zenhao, without putting the neck of Iraq in the hands of this company known corruption, bribery and extortion, especially since this contract was canceled by the previous government, after being met by a large parliamentary campaign and media because of suspicions of corruption that surrounded him from the ground up ?!

The answer is clear, in our opinion, does not require an explanation from the Minister of Oil Thamer Ghadhban, or from the spoiled girl Alaa Al-Basri! Perhaps the most serious in the matter, that a non-sovereign or a competent financial, such as (SOMO), is borrowing from a third party, which is of course not authorized by law, and in the absence of the Ministry of Finance, and the lack of knowledge of the House of Representatives, and the development of financial oversight, and the integrity of the Integrity Commission And, most important of all, is: what will benefit Iraq from such a contract, and what is the absolute necessity to sign contracts with such haste and confidentiality.

Then, who authorized Alaa al-Yasiri to sign huge financial contracts that pledge the national economy to foreign companies? Is it his job to borrow money from countries and institutions, and if this is his job, what is the job and function of the Central Bank and the Ministry of Finance, which we spend billions of dollars annually. It is a legitimate appeal to these parties and to the deputies in the parliamentary committees of energy and finance for the purpose of clarifying their position on this contract, and what are the benefits envisaged from it, and how it will reflect on the deteriorating Iraqi economy because of this chaos that strikes Tnabh!

* Our site cannot confirm the information and accusations contained in the report.

http://altahreernews.com/7882/