Basra Council accuses Sumo of wasting millions of dollars

[yota691]

Basra Council accuses Sumo of wasting millions of dollars

Economy News _ Baghdad The chairman of the oil and gas committee in the provincial council of Basra Ali Shaddad Al-Faris, on Sunday, accused the oil marketing company (Sumo) of "wasting millions of dollars." "The company has become a stumbling block in the development of the Iraqi oil tanker company, whose headquarters are located in the province of Basra because of the refusal of Sumo Company to allocate a percentage of crude oil and sell it by way of (cif), which reaches the ports of the willing countries," Al-Faris said in a statement received by Al-Iktissad News. To buy under the pretext of fears of being detained by the creditor countries of Iraq, in addition to causing a significant loss of material to the country as fines for delay during the loading and unloading of trucks anchored in the country's oil ports. He added that "some international companies expressed their desire to transfer Iraqi crude oil and pledged to pay the money to Iraq in the event of the custody of tankers loaded with crude oil by the creditor countries," noting that "the insistence of the company to not allow the Iraqi oil company to carry out its work will lose a lot Of the opportunities for development and rehabilitation of technical cadres and the establishment of a large Iraqi fleet. " He pointed out that "since the fall of the former regime has been to import a lot of oil derivatives in the way (cif) and bear the financial cost of access of these materials to the Iraqi ports, and was the best ministry of oil to work on the development of the company oil tankers and used in importing these products to reduce the large financial costs Which is paid as a pay for delivery. " Al-Fares pointed out that "Iraq bears annually large amounts of millions of dollars as delay penalties on the company of Sumo because of the delay in the pumping of crude oil in Iraqi ports, in addition to the company to face several problems, most importantly not to comply with the quantities agreed with the purchasing countries of Iraqi oil, And the lack of capacity to achieve a production increase commensurate with the planned production, and the decline in the level of loading in Khor al-Amaya oil, which led customers not to resort to the loading of crude oil. He explained that "these problems and other problems prevented Iraq from maximizing its financial imports and achieve a significant increase in its export production," noting that the company bears three types of financial fines since 2013 to 2016, fines imposed due to delays in the discharge of petroleum derivatives amounted to (7) million And the second type due to the delay in the loading of crude oil amounted to (207) million dollars, while the third type of fines incurred by the company Sumo comes because of service contracts, which is estimated at (60) million dollars. He added that "the import of oil derivatives since 2010 until 2017 has greatly affected the stability of the dollar in the country and was the most worthy of the Ministry of Oil to take advantage of the large financial amounts in the expansion of refineries and the establishment of another new instead of resorting to import, where the import of gas oil (6 billion dollars ), Benzene (12 billion dollars), white oil (850 million dollars) and liquid gas (1 billion dollars). Al-Fares called for changing the management of the company and selecting a new management that has the ability and efficiency to upgrade the company's status and reduce the fines borne by Iraq because of it, in addition to the development and rehabilitation of the Iraqi oil tanker company, which will save the country billions of dollars currently spent on international transport companies.

Views 33   Date Added 09/03/2017

[italiancat]

.... and they are just realizing this company steals? How amazingly Oblivious these people act!!!

 

Thanks Yota

[unirod]

Why would international transport and shipping companies want competition from an Iraqi based shipping company? This is no doubt why SUMO officials are on the take from these same international companies! why not allow fines to be assessed out of Sumo's pocket since it doesn't come out of theirs anyway! Sumo is corrupt so it's no wonder the Kurds had a problem with them!

[Theseus]

Passing the HCL would nationalize all oil companies under Iraq. No more SUMO because then it will be SUMO wrestling with Iraq.

[skeetdog]

Thanks Yota...

On 9/3/2017 at 7:08 AM, italiancat said:

.... and they are just realizing this company steals? How amazingly Oblivious these people act!!!

 

Thanks Yota

 

22 hours ago, unirod said:

Sumo is corrupt so it's no wonder the Kurds had a problem with them!

 

29 minutes ago, Theseus said:

Passing the HCL would nationalize all oil companies under Iraq. No more SUMO

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[Theseus]

3 hours ago, skeetdog said:

Thanks Yota...

 

 

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