Buy bitumen in South Africa
As the title shows, this text is going to give you some information on the “ buy bitumen in South Africa“.
Since the countries can affect each other,
we will start the article with the latest news of Iraq and China. Therefore,
we can realize how they can affect the market in South Africa.
Iraq pre-sells $2 billion worth of oil to China
On January 2, Iraq signed a multibillion-dollar oil supply contract with a
Chinese company to supply 4 million barrels of oil per month for five years. Iraqi oil marketing company Sumo has signed a contract with Geneva,
China, to supply 130,000 barrels of crude oil per day to 4 million barrels with
a $2 billion advance. bitumen in South Africa
To be more specific, on January 2, Iraq signed a multibillion-dollar oil
Also , supply contract with a Chinese company. Iraqi Prime Minister Mustafa
But , al-Kadhimi has approved the signing of the agreement in parliament. The Geneva Oil Company of China has signed a contract with the Iraqi Sumo
Company to purchase 4 million barrels of oil worth $2 billion a month for 5 years. The oil-supply deal between Iraq and China will strengthen Iraq’s economy,
which has stopped by the Corona crisis. Chinese state-owned companies
have already signed similar contracts with Angola, Venezuela and Ecuador to
save their economies.
Buy bitumen in South Africa
Moreover, the head of Sumo, which oversees Iraqi oil exports,
said the deal would generate $4.2 billion in revenue for Iraq. He also added
But , that Sumo had several offers from oil trading companies, including China’s Geneva Oil Company. Sumo has signed a contract with Geneva to supply
130,000 barrels per day of crude oil and is set to receive an advance payment. The CEO of Sumo announced that the Chinese company has won the contract
in competition with European oil companies. Needless to mention that
the meeting of OPEC ministers to decide on increasing oil production. OPEC ministers will decide today
(Monday) to increase oil production by 0.5 million barrels per day in February.
buy bitumen in South Africa
Also , According to a news agency, quoted by Tass news agency, the ministers of
OPEC plus member countries will hold two meetings today (Monday) to
decide whether to increase oil production in February by 0.5 million
barrels per day after a similar increase. Informed sources told the
Tass news agency that not all members of the coalition explicitly
support an increase in production in February because they believe
that at least a month will have to wait to assess the changed situation.
