Chinese oil companies lead purchases of Iraqi oil in July, SOMO reports

Shafaq News/ Iraq's state-owned marketer SOMO reported on Thursday that Chinese oil companies secured the top spot as the most prolific buyers of Iraqi oil in July.

According to SOMO's official website, ten Chinese companies were among the 40 international firms that engaged in purchasing Iraqi oil during that month.

Indian companies occupied the second position, with seven companies participating. South Korean and American companies were tied for third place, each represented by four firms.

Italian companies ranked fourth with three, and Greek and Emirati companies held fifth with two entities each. The remaining buyers included single companies from Turkey, Spain, the Netherlands, the UK, Kuwait, Jordan, Azerbaijan, Malaysia, and Japan.

SOMO emphasized that its process for selling Iraqi oil revolves around key criteria for contracting with diverse international oil companies, encompassing major, medium, independent, and vertically integrated governmental corporations.

The organization highlighted notable participants in the Iraqi oil market, with significant purchases attributed to the Indian Hindustan Company, South Korean KOGAS, American Exxon Mobil, British Dutch Shell, and Italian Eni.