Iraq plans to develop a major new standard for the pricing of oil from next April
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Iraq plans to develop a major new standard for the pricing of oil from next April
Shilo Fri Feb 12, 2010 1:46 pm
February 12, 2010 · Posted in NEWS
Senior Iraqi official said on Thursday, 11/2/2010, Iraq will turn to the use of index (Argos) for raw materials, high sulfur as the main criterion for the pricing of crude oil sales to the United States instead of the futures contracts for U.S. crude.
Falah Al-Amri, President of the Iraqi State Oil Marketing Organization (SOMO), told Reuters “pricing policy (new) will apply to sales to the United States as of April (April).”
The transformation of Saudi Arabia’s largest oil exporter in the world, as well as Kuwait already to set prices according to the index Argus.
http://translate.google.com/translat…ate.google.com
Senior Iraqi official said on Thursday, 11/2/2010, Iraq will turn to the use of index (Argos) for raw materials, high sulfur as the main criterion for the pricing of crude oil sales to the United States instead of the futures contracts for U.S. crude.
Falah Al-Amri, President of the Iraqi State Oil Marketing Organization (SOMO), told Reuters “pricing policy (new) will apply to sales to the United States as of April (April).”
The transformation of Saudi Arabia’s largest oil exporter in the world, as well as Kuwait already to set prices according to the index Argus.
http://translate.google.com/translat…ate.google.com
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