SOMO | Egypt Oil & Gas - Part 3
Iraq Targets 60,000 b/d at Qayara Field Before 2019
Iraq is increasing crude oil production from its Qayara oil field with a target of 60,000 b/d before 2019, S&P Global Platts reported. The current production levels of 30,000 b/d will be doubled by the end of 201...
Iraq, China Joint Venture Deal by November
Iraq’s state oil marketer SOMO is closing in on a deal with China’s state-run Zhenhua Oil for a joint venture to help boost Iraqi oil sales to China, the world’s top oil importer, Reuters reported. “Zhenhua help...
Egypt Receives Third Cargo of Iraqi Crude in 2018
Egypt has received 2 million barrels of Iraqi crude, the third shipment of 2018, Iraqi commercial attaché to Egypt Hider Nori Gabr has said, according to Al Mal. The cargo is part of an agreement originally signed in ...
Iraq Raises Oil Selling Price for Asia-Bound Crude
Iraq’s State Oil Marketing Organization (SOMO) has raised its oil selling price for July exports of Basra Light and Basra Heavy crude grades to Asia, Platts reported. SOMO raised Basra Light prices by 40 cents/b...
Iraqi Oil Exports Fall to 96 M Barrels
Iraq exported around 96 million barrels of oil in February 2018, generating revenues of $5.726 billion, the oil ministry has announced, according to IraqiNews. The figures are lower than those recorded over the previo...
Iraq to Auction 4M Barrels of Oil
Iraq will offer up to four million barrels of crude in a Platt’s auction this week, Reuters reports. The auction is to be held on Friday, according to the news agency. Iraq’s Oil Marketing Company (SOMO) will be offer... SOMO Awards Diesel-Import Contracts
The Iraqi oil-marketing firm, SOMO, awarded contracts for diesel importation to ZhenHua Oil, BB Energy, Litasco, and Lima, sources told Reuters. The tender was for 2.37 million tons of diesel. The diesel is to be deli...
Some Question Iraq’s Move to Change Oil Price Benchmark
Some refiners are expressing unhappiness with Iraq’s move to change its pricing mechanism, Reuters reports. Last week Iraq’s Oil Marketing Company (SOMO) announced that it was looking to use DME Oman futures for as it...
