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The Latest Breaking News from SOMO

Iraq opens oil exports beyond Hormuz after months of war, eyes ship-to-ship route off Oman

Iraq now allows crude oil collection outside the Persian Gulf for buyers. This move comes as exports continue through the Strait of Hormuz despite disruptions. Iraq's state oil marketer is offering specific crude grades via ship-to-ship transfer. This shift follows previous steep discounts offered to entice buyers. The country aims…

The Economic Times

Brussels AI ambitions risk fuelling Big Tech dominance, watchdog warns

Public support for European AI start-ups could end up strengthening the dominance of US tech giants like Microsoft and Amazon, a new report finds.

Euronews

Public employees in Iraq’s Kurdish region caught in the middle of Baghdad-Irbil oil dispute

Tensions have escalated between Iraq’s central government in Baghdad and the semi-autonomous Kurdish region in the country’s north in a long-running dispute over the the sharing of oil revenues

The Independent UK

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Sotheby’s Motorsport Celebrates a Year of Record-Breaking Success, Posts First-Ever $1+ Million Sale

This 2016 Ferrari F12tdf sold for $1.15 million.

Motor1

Tom Brady’s 2024 Rolls-Royce Ghost That Features His Autograph Is Up For Auction

Here's your chance to own an extremely special version of the ultra-luxurious sedan.

Motor1

Activists Urge Nigeria To Delay Shell's Asset Sale

Activists and environmental groups oppose Shell's sale of onshore assets in Nigeria's Niger Delta, citing environmental concerns and urging resolution befo...

Top News

Shell must clean up pollution before it leaves Niger delta, report says

Firm told it must take responsibility for toxic legacy of pollution and safe decommissioning of abandoned oil infrastructure

The Guardian - UK

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Allegations of extensive sexual abuse at Kenyan offsetting project used by Shell and Netflix

NGOs report allegations of abuse and harassment at Kasigau Corridor conservation project in southern Kenya over 12 years

The Guardian - UK

Turkish attacks kill 7 PKK members in Iraq as delegation visits KRG

Turkish FM discussed oil exports blocked by Turkey in March after a longstanding arbitration case filed by Baghdad.

Al Jazeera

Amazon under fire for ramping up sellers’ fees and advertising costs

Some delivery and storage costs for European vendors more than doubled in 2017-23, analysis shows

The Guardian - UK

Iraq’s gov’t signs deal with KRG to resume oil exports

Longtime dispute between two sides has been temporarily resolved, and oil exports via Turkey will resume, officials say.

Al Jazeera

On The Beach, In The Style and Bolton Wanderers: The 17 latest top North West hires and promotions

BusinessLive rounds up the latest hires and promotions across the North West

Birmingham Post

Iraq, Algeria, Oman, Kuwait and Bahrain Affirm Support for OPEC+ Production Cut

OPEC+ member states lined up on Sunday to endorse the production cut agreed this month after the US had accused Riyadh of coercing some other nations into supporting the move. Algeria's Energy Minister Mohamed Arkab called the decision “historic” and expressed his full confidence in it, Algeria's Ennahar TV reported.…

Asharq Al-Awsat

Matalan, Vita Group and BGF: The 52 latest North West hires and promotions

BusinessLive rounds up the latest appointments and promotions in the North West

Birmingham Post

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Asharq Al-Awsat

Oil Slides More than $7 on Inflation and Iraq Exports

Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent in the OPEC nation's crude exports. Brent crude futures…

Tribune News Service

Deadly turmoil erupts in Iraq after top cleric’s resignation

Iran closed its border crossings with Iraq after deadly clashes erupted in Baghdad over a prominent cleric’s decision to resign from politics, deepening a government crisis in the OPEC-member state.

Asharq Al-Awsat

Iraq Threatens New Legal Action against Kurdistan Crude Buyers

Iraq's state-owned oil marketer SOMO has threatened fresh legal action against buyers of crude oil originating from the semi-autonomous Kurdistan region, according to a letter dated Aug. 23 seen by Reuters. The letter is the latest in a series of moves by Iraq's oil ministry to try to control oil…

Asharq Al-Awsat

OPEC Authorizes Iraq to Increase Output to 4.5 Mln Bpd

Iraq’s representative at OPEC said the organization had agreed to the country increasing its output to 4.5 million barrels of oil per day (bpd) starting from June, the state news agency (INA) reported on Saturday. There will be further increases of 50,000 bpd in output in each of the months…

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Asharq Al-Awsat

Iraq Schedules Crude Shipments for March Loading amid Strong Demand

Iraq has already scheduled some oil shipments for loading in March due to projections of strong demand, Ali Nizar, deputy head of Iraq’s State Organization for Marketing of Oil (SOMO), told reporters on Sunday. Nizar said it was still too early to say if oil prices will exceed $100 per…

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