Baghdad, 17 May (Rn) – The Iraqi oil marketing company “Sumo” of the Iraqi Oil Ministry on Tuesday for launching the development of new mechanisms related to the search for markets, global oil to facilitate the marketing of 3 million barrels per day of Iraqi crude oil, saying that it can the marketing of this quantity is smooth.
The Director General of SOMO Falah al-Ameri, told the Kurdish news agency (Rn) “The oil marketing company SOMO and developed a new mechanism for marketing based on expansion of ties with the oil markets of Asian, European and U.S. to facilitate the marketing of 3 million barrels per day of Iraqi crude oil late this year.”
Iraq has since the early eighties of the last century a wide array of export of crude oil with a capacity of Nominal 6.6 million barrels per day, including a double tube through Turkish territory to the Turkish port of Ceyhan on the card more than 1.6 million barrels.
However, the system suffered damage and neglect by the long years of war and siege, which impact negatively on the export capacity, which now stands at about two and a quarter of a million barrels a day.
Iraq has currently pipelines for exporting crude oil spread over the northern Gulf port of Basra card more than two million barrels a pipeline across Turkish territory card ranged between 400 and 500 thousand barrels per day.
The Iraqi government announced last year that it plans to build new pipelines to export crude oil through Syria, Turkey and the Gulf in order to accommodate the new production capacity expected to reach gradually to about 12 million barrels per day within the next five years.
They expected the Iraqi oil ministry to reach its production of crude oil late this year to about 3 million barrels per day from two and a quarter of a million now.
Al-Amiri that “Iraq is working according to plan strategy for the process of marketing operations, which are difficult and precise computations, which require constant coordination between the processes of production, extraction and storage of oil.”
He pointed out that “the SOMO and provided legal and technical effects to expand the marketing of Iraqi crude oil to world markets to become one of the most competitive types of oil in OPEC.”
The Iraqi Oil Ministry, had said recently that 60% of its crude oil exports to Asian markets world, stressing that Iraq preferred to the Asian market due to lack of transport costs.
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