Tag Archives: State Organization for Marketing of Oil (SOMO)

Iraq says it plans to start oil exports to Iran from the northern Kirkuk fields next week under a swap deal announced last month.

some 30.000 barrels per day of Kirkuk crude oil would be transferred ``in the near future`` by trucks to Iran’s Kermanshah refinery.

Iran and Iraq signed a basic agreement in February that envisaged exporting Iraqi oil through the Iranian territory .

Iraq is holding talks with Iran to truck 15.000 bpd of Kirkuk crude to Iran’s Kermanshah refinery.

The government'.s latest move allows Baghdad to export crude without depending on Kurdish region.

Over 250.000 barrels of oil are exported out of Kirkuk per day.

Iraq has been reforming its oil sector to achieve higher prices and setting up trading and shipping joint ventures.

SOMO and Russia'.s Litasco have set up a joint trading company in Dubai to market crude.