The former president of “SOMO”: The government wants to continue depositing Iraqi oil revenues in the US Reserve Bank
Information / Baghdad… The oil expert, former head of the Oil Marketing Company (SOMO), Falah Al-Amiri, confirmed that the money from the sale of Iraqi oil has been deposited in American banks since the nineties of the last century.
Al-Amiri said in an interview followed by “The Information” that “Iraq would have been able to produce 8 million barrels per day now, had it not been for the Iraq-Iran war,” noting that “Iraq’s oil reserves are concentrated in central Iraq, and very few of them are located in the border areas, and the quantities of crude in it range from one billion to one and a half billion barrels.
He added, “Agreeing to sell Iraqi oil to companies is the exclusive authority of the Minister of Oil, not SOMO,” noting that “all the money from the sale of oil goes to the US Reserve Bank since 1996, and the government demanded after 2003 that this mechanism remain to preserve funds from the risks of lawsuits.” “.
He explained that “the Kirkuk-Ceyhan export line accommodates more than one million barrels per day, while it is planned to accommodate one million and 600 thousand barrels per day, and it has been suspended from 2014 until now, due to the security situation,” noting that “Iraq now exports Kirkuk oil through Kurdish pipelines. And then to Jihan.” finished/25h