Iraq maintaining its position in Indian market – SOMO head

A general view shows an Iraqi national flag flown in front of excess gas as its being burnt off, at a pipeline in the newly opened section of the oil refinery of Zubair, southwest of Basra in southern Iraq, on March 3, 2016. (AFP photo)

SULAIMANI (ESTA) — Iraq is still maintaining its position in the Indian oil imports market despite India’s increased imports of Russian oil, head of the state-owned marketer SOMO Alaa al-Yasiri said on Friday.

“Several countries including India found Russia crude oil, which is now being sold with big discounts, as an alternative to competing crude oils,” state news agency INA quoted Yasiri as saying, according to Reuters.

But Iraq is keeping up its high market share in India thanks to the contracts it has with government and private refineries, he added.

India is the world’s third biggest oil importer.

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