18MAR2019 - NEWS - State Oil Marketing Organization of Iraq eyes to expans its crude oil trading activities with more spot sales and with opening offices

State Oil Marketing Organization (SOMO) of Iraq is looking to expand its crude oil trading activities with more spot sales and with opening offices outside Iraq. SOMO has moved to scrap two joint ventures for trading as it aims to boost its crude oil sales on its own and get the trading revenues for itself. Iraq also aims to sell more of its oil on the prized Asian markets, and in November it allocated 67 percent of its 2019 oil sales to Asia. Iraq has raised the share of its crude oil shipped to Asia to 67 percent for 2019, from around 60 percent earlier in 2018.

Published by Editor - www.Livebunkers.com at 18-Mar-2019 06:45:34 [UTC] , contact editor at editor@livebunkers.com