UPDATE: Iraq seeks pre-payment for oil exports
A new proposal from SOMO asks crude buyers to pay up front for a year's worth of exports to secure a 5-year supply — part of Iraq's response to a cash-flow crisis.
Alaa al-Yassiri, the director general of Iraq's State Oil Marketing Organization, at the Nov. 30, 2017, OPEC meeting in Vienna. (BEN LANDO/Iraq Oil Report)
UPDATE: This story has been updated to include additional details and contextual information about SOMO and KRG oil sales.
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