KTFA: Samson: Russia pushes Iraq out of India’s top oil supplier
3rd November, 2022
Russia has removed Iraq from the forefront of the countries that supply India with oil supplies, after Iraq was the largest source of this large Asian country.
The Indian “Business Insider” website, in a report, published in English, translated by Shafaq News Agency, stated that the British energy company “Fortexa” announced new data showing the new oil statistics.
The report indicated that India’s imports of crude oil from Russia increased by 8% to reach 946 thousand barrels per day during the month of October. The Indian report indicated that this figure represents 22% of India’s total imports of crude oil, exceeding Iraq’s share of 20.5%, and Saudi Arabia’s share as well, which amounts to 16%.
In addition, the report stated, that October witnessed the first time that India imported more quantities of Russian seaborne crude than the European Union. In a parallel context, the report pointed out that China remained the largest buyer of Russian oil, as it imported one million barrels of crude per day during the month of October.
In this context, the report stated that Russia is moving away from European markets as Western buyers have avoided Moscow since Russian President Vladimir Putin began the invasion of Ukraine, while Moscow has been selling its oil and gas production to Asian buyers at reduced prices, while severe sanctions are expected to be applied. Additional on December 5th.
However, CNN quoted Indian Oil Minister Hardeep Puri as saying a few days ago that buyers have a “moral duty” to continue buying crude oil to secure energy for citizens. LINK
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Samson: Minister of Trade: Iraq is a promising market and many companies want to invest in it
3rd November, 2022
The Minister of Commerce, Atheer Daoud Al-Ghurairi, confirmed, on Thursday, that the Baghdad International Fair, which started its work two days ago, is an opportunity to strengthen the cooperation frameworks of the countries and companies participating in Iraq
Al-Ghurairi told the official news agency, “The opening of the 46th session of the Baghdad International Fair coincided with the formation of a new elected government, which announced openness to the world within its government program, establishing international relations with everyone, and encouraging the private sector and foreign companies
He added, “The Baghdad International Fair is a forum to attract the largest possible number of countries and companies, given that Iraq is a promising market and there is a desire by many companies to invest in the country, and it casts a shadow over economic interests among the participating countries
He pointed to “the participation of nearly 12 countries and more than 360 local, Arab and foreign companies,” noting that “the coming years will witness greater participation of effective countries and companies in light of the efforts that will be made to cover and activate the committees and agreements between countries LINK
