Iraq is consistent with India to sell oil worth $ 1.4 billion in 2016

BAGHDAD / long-Presse
Revealed to media sources, on Wednesday, Iraq's agreement with India on processing approximately 160 thousand barrels of oil per day, during the next 2016, compared billion and $ 400 million, indicating that it ensures him to be a third processors in Asian markets extremely vital, and pull the rug from Iran, which is seeking a share of the "Asian cake" when Amaaodtha exporting oil next year.
Media sources said followed up (range Press), said that "Iraq concluded trade deals with India worth billion and $ 400 million, provide them under which approximately 160 thousand barrels of crude oil per day during the next 2016 to secure the two needs of oil refineries", usually that comes in. " the framework of Iraq's efforts to ensure its share of great importance in the Asian oil market. "
The Asian market consumes half the amount of oil in the world, making it attract and producers struggle to acquire a stake of its cake area, especially in light of the current glut, the continuous decline of crude prices.
Those sources and found that "oil deals concluded by Iraq recently will strengthen its position in the Asian market, to be the third largest supplier of oil to it, will also provide a part of the financial returns that is badly needed to finance the war against Daash and revive the economy, which relies on oil," noting that those "deals also reflect the increasing importance of India's large consumer of oil, in light of Iran's quest to get on the side of the Asian oil markets and courtship to their countries."
He said economic analyst Verendra Chauhan, of Energy Aspakedz Foundation Energy Aspects in Singapore, according to those sources, that "India are important strategic and will remain within the world's fastest growing economies over the next year in 2016," noting that "the recent Iraqi contracts with it comes within a period of six months from the starting class Basra heavy crude, and is proof that Iraq has been struggling to install the place and its share in the Asian market by dumping more Iranian oil, which will enter the competition after the lifting of Western sanctions on Tehran. "
And saw Chauhan, that "the competition will increase unit only when the return of barrels of Iranian oil after the second half of next 2016," pointing out that "Iran has been equipped with the president of India oil before the imposition of sanctions, and that the rivalry between Tehran and Baghdad on this customer will be created from this perspective ".
According to a source familiar with the matter, "the Iraqi oil marketing company SOMO SOMO contracted with the largest capacity of oil refineries in India Foundation's Reliance Andstric Reliance Industries business, for processing up to 100 thousand barrels per day of crude oil Basra heavy over the next 2016."
Plans Sumo also "signature League contract with the Indian Oil Corporation IOC for processing about 60 thousand barrels of Basrah heavy day, is expected to go to the refinery Pradeep Paradip new of the company, noting that the two companies Hindetyn contract formerly respect ore Basrah Light."