PM:11:07:12/10/2025
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The State Organization for Marketing of Oil (SOMO) Director General Ali Nizar Shatri said Sunday that the agreement with Exxon Mobil represents an important strategic step for Iraq’s oil industry and marketing sector.
He explained that Exxon Mobil, as one of the world’s leading oil, gas, and refining companies, possesses advanced technology and offers competitive prices, which enables it to play a key role in marketing Iraqi crude in various global markets.
Shatri added that Exxon Mobil has proposed to participate in refinery and storage projects in several regions, particularly in Asia, which will enhance Iraq’s global sales position and strengthen the economic partnership outlined in the agreement.
He noted that Iraq has long needed such strategic partnerships with international companies that possess strong expertise and advanced technology.
The SOMO director emphasized that Iraq does not currently need to increase oil production, but rather to improve its export capacity by building a comprehensive network of storage facilities and export pipelines, a development that will complement projects such as the Majnoon oil field, which Exxon Mobil has also agreed to help develop.