we are in a position to secure contracts to procure Iraqi Basra Light Crude Oil and Basra Heavy Crude Oil directly from SOMO (The State Oil Marketing Organization).
Please note that:
SOMO sells oil to refineries only on FOB basis, in accordance with OPEC regulations.
Iraq offers attractive Distance Discounts depending on location of the refinery.
Our role is limited to securing a contract with SOMO, we have nothing to do with prices and discounts.
No upfront payment. SOMO collects payment from the Revolving Documentary Letter Of Credit (RDLC) which would be established by the buyer after signing the contract within 30 days from date of departure of the buyer�¢??s ship after loading of oil and handover of Certificate of Transfer of Oil Ownership from SOMO to the buyer.
If you need further clarifications or have questions, please feel free to contact me.
Regards,
