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26-09-18
Iraq's state oil firm eyes oil storage purchase in Asia
(MENAFN) The Iraqi SOMO oil company is eyeing the purchase of oil storage in Asia, a top official unveiled on Wednesday.
The Iraqi company was also revealed to be set to enter talks on securing further profit-sharing deals, targeting an expansion of its status within the region.
The news has been announced by Ali Nazar Faeq Al-Shatari, head of the crude oil and gas marketing division at SOMO on the sidelines of the Argus Crude Forum.
The senior official stated "we're looking forward to acquire storage tanks, to acquire facilities in the major market for us which is Asia."
Al-Shatari noted "so any other profit-sharing agreement or deals, that may serve these purposes, we may study it."
He added that the agreements ought to avoid originating conflict of interest with current deals.
MENAFN2609201800450000ID1097489359
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