yota691 Posted April 24, 2017 Report Share Posted April 24, 2017 Iraq plans to sell two million barrels of oil in the Dubai Mercantile Exchange Economy News Baghdad: it announced commercial sources in the global oil market, that Iraq plans to sell two million barrels of Basrah Light crude through a tender Stock Exchange Dubai Energy. The sources said, " the Iraqi Oil Marketing Company (SOMO) long - term buyer notified that it plans to sell two million barrels of Basrah Light crude loading in June through a tender Stock Exchange Dubai Energy." The sources pointed out that it "would be the first time ever that the Basra crude is sold through the DME." She added that "fixed charge point to Asia and that it will not accept any bids do not include the premium over the official selling price of Basra light crude in June." Views 162 Date Added 24/04/2017 - 13:03 Last updated 24/04/2017 - 13:22 No. Content 7253 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted April 24, 2017 Author Report Share Posted April 24, 2017 24-04-2017 12:54 PM For the first time ever .. sell Basra crude through Dubai Mercantile Exchange Notified the Iraqi oil marketing company SOMO] buyer long-term it plans to sell two million barrels of Basra Light crude loading next June through a tender Stock Exchange Dubai Energy. Trade sources indicated that it would be the first time ever that the Basra crude is sold through the DME. As it explained that the shipment with fixed point to Asia and that it will not accept any bids do not include the premium over the official selling price of Basrah Light crude in Huzeira 3 Quote Link to comment Share on other sites More sharing options...
presence Posted April 24, 2017 Report Share Posted April 24, 2017 Good morning Yota- and DV - and thank you or this truly awesome post! "For the first time ever.,," - words like that really make me believe that HCL is done. This thread is just as good as the one from 7 hours ago that refers to the local and federal currency demands by the IMF and WB. It appears that no one is going to have an excuse not to increase the value considering the vastly improved security in Mosul - and the timeliness of the 60 days Abadi referred to a couple weeks ago regarding full release from the UN Chapter VII sanctions within 60 days. The stock market mentioned here and the ISX are going to be game-changers for millions of people in the next few years, in the same manner that Brazil produced more millionaires a decade ago than ever before despite the fact that the rest of the world faced economic calamity during the same period. Bring it on - GO RV!!! 13 Quote Link to comment Share on other sites More sharing options...
yota691 Posted April 24, 2017 Author Report Share Posted April 24, 2017 Sources: Iraq sells Basra Light crude through DME History of edits:: 2017/4/24 12:25 • 86 times readable [Oan- follow - up] on Monday , trade sources said that the Iraqi oil marketing company SOMO] buyer notified the long term it plans to sell two million barrels of Basra Light crude loading next June through a tender Stock Exchange Dubai Energy. The sources pointed out that it would be the first time ever that the Basra crude is sold through the DME. She added that the shipment with fixed point to Asia and that it will not accept any bids do not include the premium over the official selling price of Basra light crude in June. 1 Quote Link to comment Share on other sites More sharing options...
vato96 Posted April 24, 2017 Report Share Posted April 24, 2017 Sounds like Iraq is in full international mode. Hopefully the Dinar follows suit!!! 6 Quote Link to comment Share on other sites More sharing options...
yota691 Posted April 24, 2017 Author Report Share Posted April 24, 2017 Basra crude is sold through Dubai Mercantile Exchange By SD SD - April 24, 2017 Treasures Media :: Baghdad On Monday, trade sources said that the Iraqi oil marketing company SOMO] buyer notified the long term it plans to sell two million barrels of Basra Light crude loading next June through a tender Stock Exchange Dubai Energy. The sources pointed out that it would be the first time ever that the Basra crude is sold through the DME. She added that the shipment with fixed point to Asia and that it will not accept any bids do not include the premium over the official selling price of Basra light crude in June. 3 Quote Link to comment Share on other sites More sharing options...
Wiljor Posted April 24, 2017 Report Share Posted April 24, 2017 Morning Yota, very much obliged Here we are DV, more international news. 12 Quote Link to comment Share on other sites More sharing options...
blueskyline Posted April 24, 2017 Report Share Posted April 24, 2017 Thank You Yota . GM DV's 2 Quote Link to comment Share on other sites More sharing options...
steveh12 Posted April 24, 2017 Report Share Posted April 24, 2017 Thank You Yota!! " Lets Do This" Quote Link to comment Share on other sites More sharing options...
Freedomwish Posted April 24, 2017 Report Share Posted April 24, 2017 Getting ready Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted April 24, 2017 Report Share Posted April 24, 2017 Thanks Yota. Hopefully this a sign that the HCL is done or agree upon. 2 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted April 24, 2017 Report Share Posted April 24, 2017 1 hour ago, ChuckFinley said: Thanks Yota. Hopefully this a sign that the HCL is done or agree upon. I like the way you think my dear friend 1 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted April 24, 2017 Report Share Posted April 24, 2017 7 minutes ago, SnowGlobe7 said: I like the way you think my dear friend I like the way you respond to the way I think there SG7. . Hope you are doing well. I thought for a second there that we were at the end. 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted April 28, 2017 Author Report Share Posted April 28, 2017 of Iraq sells two million barrels of oil through the DME 46 minutes ago Twilight News, trade sources / said on Friday that the Iraqi Oil Marketing Company (SOMO) has sold two million barrels of Basrah Light crude loading June at a premium over the official selling price at auction Stock Exchange Dubai Energy. They explained that the shipment was sold at 31 cents above the official price to an unknown buyer. A source said that the date of loading the cargo on June 26, it was tempting for traders because it gives them enough time to re-sell oil 2 Quote Link to comment Share on other sites More sharing options...
Gypsygirl11 Posted April 28, 2017 Report Share Posted April 28, 2017 Two million barrels. ... that is a lot of Frickin oil!!! Show us the $$$ Iraq! 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted April 30, 2017 Author Report Share Posted April 30, 2017 "SOMO" sells two million barrels of Basra Light crude cross-platform "Auctions DME" Date:April 30, 2017 The Dubai Mercantile Exchange (DME), the first international exchange in the Middle East region for decades, energy futures and commodities, yesterday that "SOMO" (SOMO), the Iraqi Oil Marketing Company has sold of 2 million barrels of Basra Light crude for delivery in June 2017 via the platform " Auctions DME ". Auction interest in a wide range of oil traders and refiners, where companies participated in more than 20 circulating and did more than 40 minutes during the bidding has attracted,. The highest price for the shipment of 31 cents added to the official selling prices reached (OSP) of Basrah Light crude for June. And it will announce "SOMO" for official selling prices for the month of June in the second week of May. Said Dr. Falah al-Amiri, General Manager of "SOMO": "We have included auctions DME as an option for the sale of Basra Light crude, in order to meet demand in Asia, and providing equal opportunities for clients in order to reach the immediate ship, the. Reflects today's auction commitment to enhance transparency in markets located east of Suez, and meet the needs of our customers and traders according to the specific scheduling of time. " For his part, Ahmad Sharaf, Chairman of Borse Dubai Energy: "This cooperation represents a significant step in the DME, as it highlights the importance of such a unique platform for both producers and consumers to make buying and selling direct transactions in a safe environment transparent . confidence is also established by the Iraqi national oil company 'SOMO' and the various parties involved in the sector to exchange new evidence on our excellence, and motivate us to continue to provide innovative and transparent trading solutions. " The "Auctions Dubai Energy" platform working to meet one of the essential needs in the commodity markets, where the provision of services to customers who want to buy and sell energy products and other goods in the Middle East and beyond, through conducting auctions with the highest levels of transparency. Auctions operates the DME platform using custom from Aelezian Systems Software Co., Ltd., a leading provider of systems auctions. 5 Quote Link to comment Share on other sites More sharing options...
siberian_shaddow Posted April 30, 2017 Report Share Posted April 30, 2017 Much appreciated Yota, love to read those words First International Exchange in the ME. region for decades. 1 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted April 30, 2017 Report Share Posted April 30, 2017 Thanks Yota, anything with the word international it is is a positive sigh. 2 Quote Link to comment Share on other sites More sharing options...
Wiljor Posted April 30, 2017 Report Share Posted April 30, 2017 (edited) 5 hours ago, ChuckFinley said: Thanks Yota, anything with the word international it is is a positive sigh. I concur Chuck Edited April 30, 2017 by Wiljor 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted April 30, 2017 Report Share Posted April 30, 2017 (edited) Wiljor, are you out in the neighborhood? Anything hot? Edited April 30, 2017 by ChuckFinley 2 Quote Link to comment Share on other sites More sharing options...
Wiljor Posted April 30, 2017 Report Share Posted April 30, 2017 Ya 35 degrees here Chuck, time for a beer and a dip in the pool 2 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted April 30, 2017 Report Share Posted April 30, 2017 3 minutes ago, Wiljor said: Ya 35 degrees here Chuck, time for a beer and a dip in the pool Man, you must be frying. Defiantly time for a beer and a dip in the pool. 3 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted April 30, 2017 Report Share Posted April 30, 2017 Quote Link to comment Share on other sites More sharing options...
The Englishman Posted May 2, 2017 Report Share Posted May 2, 2017 Iraq's SOMO, Russia's Litasco set up oil trade firm in Dubai - sources By Florence Tan and Rania El Gamal | DUBAI. May 2 Iraq's state-oil marketer SOMO and Russia's Litasco have set up a joint trading company in Dubai to market crude, trading sources said, joining other Middle East producers that buy and sell oil to boost their incomes. The new venture, LIMA Energy, is establishing a team to work at the Dubai Multi Commodities Centre (DMCC), the sources said, adding that it would trade in Iraqi, Russian and other crude. "LIMA will lift the first cargo of Iraqi crude in May," one source said. LIMA is modelled after Oman Trading International which began as a venture between Oman Oil and Vitol, the sources said. OTI is now fully owned by Oman Oil and trades Omani crude, products and LNG. Up to 10 SOMO members of staff, including its head of shipping, could be seconded to LIMA, one of the sources said. Litasco, a unit of Russia's Lukoil which develops oil fields in southern Iraq, is one of the world's biggest traders. Iraq is the second-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia. The Iraqi oil ministry said last month it has agreed with Litasco to form an oil marketing venture, but did not give details at the time. Last week, SOMO sold its first cargo of Basra Light crude via an auction on the Dubai Mercantile Exchange (DME), which could become a platform for price discovery. DME is now the marketplace for most Omani crude sold in Asia. Other oil producers have set up commodities trading firms. Saudi Aramco, the world's biggest oil producing company, set up Aramco Trading in 2012 to market refined products, base oils and bulk petrochemicals. SOMO handles exports from areas under control of Iraq's central government, but not exports from the northern region that is under Kurdish control. SOMO's average crude exports were 3.756 million barrels per day in March. (Editing by Edmund Blair) 3 Quote Link to comment Share on other sites More sharing options...
The Englishman Posted May 2, 2017 Report Share Posted May 2, 2017 Found this tweet a short while ago. Amena Bakr @Amena__Bakr 24m24 minutes ago Following #Iraqi Somo's success in selling its first cargo via the DME, the #KRG are now in talks with the DME. So whats good for Iraqi somo, it's good for the KRG, Very interesting if the KRG pull it off, i await for this news to break in respected articles. 4 Quote Link to comment Share on other sites More sharing options...
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