Baghdad-ALSHARQIYA February 22 : Iraq decided to freeze the pre-payment agreement for crude oil, which was aimed at boosting its revenues, after the improvement in crude prices.
Iraqi Oil Minister Ihsan Abdul-Jabbar said that with the beginning of the current year and the economic stability resulting from the stability of oil prices, Iraq has decided to freeze the option of prepayment for crude oil.
Iraq was seeking a five-year prepayment agreement that begins in January 2021 and ends in December 2025 for shipments of Basra crude, according to a letter from the Iraqi oil marketing company SOMO to its clients, seen by Reuters. .
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