SAWT BEIRUT INTERNATIONAL

| 28 May 2024, Tuesday |

First shipment of Iraqi oil will be launched on September 5.

Director of Public Relations at the Iraqi Oil Marketing Company SOMO, affiliated with the Iraqi Ministry of Oil, Haider Al-Kaabi, confirmed that “the first shipment of Iraqi oil to Lebanon will be launched from Al-Makhtaf area, the general reservoir, on the fifth of this September, with a quantity of 84 thousand tons.”

He stressed via a television interview that “there will be subsequent shipments according to the agreement and the available quantities, and that the available quantities are the quantities that can be exported, which means there is no fixed quantity in particular. “Adding, “the next shipment could be a little more or less, provided that these shipments do not exceed the agreed quantity, which is one million tons during the year.”
Kaabi explained that “the prices will be at the same prices as global markets, and at the same prices as the current purchasing companies for the same material. As for the payment, it is payment on credit, meaning that each shipment is given a period of one year, to be paid for.”