6 Hrs
Source:
Sky News
Iraq to hire foreign firms for oil export
The Iraqi government announced a plan to export crude oil through international and local companies for a period of three months starting from September, via various outlets. The selling price will be based on the pricing set by SOMO or at a discounted rate of 30%. The objective is to increase exports and generate revenues expected to reach $3 billion per month from Southern oil. Iraq also indicated its efforts to enhance its export capacity and update contracts to ensure stable oil supplies, amid expectations that the price of a barrel of oil will reach $60, contributing to the boosting of its revenues.
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