Bid & Tender

News

Iraq’s SOMO “Squeezing Out” Oil Resellers

Iraq’s State Oil Marketing Organization (SOMO) is reported to be restricting companies from reselling Basra crude oil on the spot market.

 

Oil traders have told S&P Global Platts that SOMO wants to keep a greater share of the lucrative spot market for itself.

 

The report adds that SOMO is merely implementing restrictions already embedded in its contracts with customers.

BACK

Related News