The East Asian market is the best market for importing Iraqi oil, according to Falah Al-Amiri, former head of SOMO and current advisor to the Prime Minister.
In a recent press interview, Al-Amiri stated that the oil marketing mechanism in Iraq is a transparent and advanced system in the region. He further added that customers buying Iraqi oil have respected this mechanism for the past 15 years. Initially, 28 companies from various markets were cooperating with Iraq in 2007. However, the number of companies has increased to 50 over time, indicating an increase in the number of customers from various markets. The mechanism involves distributing exportable quantities to three markets, with South Korea, China, and India being the most prominent countries in the East Asian market.
“We don’t have business dealings with all international companies. We are striving to maintain a balance in the markets, and we consider the eastern market to be one of the best for Iraq, generating the largest revenue. I urge Baghdad and Erbil to expedite the execution of gas burning programs and embrace renewable energy.” said Al-Amiri.
