Kurdistan Region's oil exports will be carried out without discounts and at a price of $85-87

According to Kurdistan Press, Ali Nizar, director of the Iraqi Oil Marketing Company (SOMO), announced in an interview with Al-Awali TV: Iraq recorded its highest oil exports in August since the beginning of the crisis in March, and the country's average oil exports have reached about 2 million barrels per day.

In a report, Dromedia wrote that most of Iraq's oil is exported through three routes, all of which are at risk of attack by the Iranian Revolutionary Guard Corps or facing US inspections and investigations.With proper management, Iraq has been able to identify companies that can handle oil transfers accurately and professionally and can pass through the coast of Oman.

So far, no incidents have been recorded for these companies and they have not entered into transactions with sanctioned or suspicious parties. Crude oil is transferred to a “junk” warehouse near the coast of Sohar and then quickly returned to Basra to allow for the transfer of more cargoes.

The projected revenues will reach about $ 4.5 billion, the highest recorded since the war began last March.

This success is the result of the marketing policy of the company Sumo and the identification of buyers who have the ability to execute transactions and transfer oil.

There are currently three shipping routes or lanes in the Strait of Hormuz.The first route is the Iranian route, which starts from Bandar Abbas and Iranian ports, and after passing through this route, the ships face possible inspection and seizure by the Americans to determine whether the ship owners have paid money to the Iranian parties.

The second route is the middle line, which is closer to Iranian waters and is considered a dangerous route. Iran has threatened that there are naval mines on this route.

The third route is the Oman route, which is located south of the Strait of Hormuz and near Musandam Island. This route is somewhat calmer and has a suitable depth, and ships with a capacity to carry nearly two million barrels of oil can pass through it; however, the Revolutionary Guards have always threatened to attack ships passing through this route.The companies that buy Iraqi oil are handling the shipments themselves and have done so well so far. We have not heard or seen any suspicious routes that would have led to sanctions against them, either against the shipping companies themselves or against the oil company involved in the transaction.

In August, 70 million barrels of oil were exported from Basra by sea, a fact that has been documented by Platts Global.

According to Platts data, Iraqi oil accounts for about 70 percent of all oil that has passed through the Strait of Hormuz, despite the continued instability in the area.This success is due to the attraction of clean and reputable companies, as Sumo only cooperates with reputable and non-sanctioned companies and does not enter into transactions with sanctioned or suspicious companies, as well as companies that are likely to be subject to sanctions in the future.

The water test of the Iraq-Turkey pipeline has been carried out and the results have been positive. The pipeline is designed to have a daily export capacity of up to 500,000 barrels of oil.

The advanced technical and corrective measures we have taken have enabled the export of 300,000 barrels of oil, and the process of filling the pipeline with oil is now underway.

There is a plan to increase exports, and the Kurdistan Region can increase its oil exports to 400,000 barrels per day.

Each barrel of oil exported by the Kurdistan Region is sold for $85 to $87, and no discount is applied to its price.