Iraq – Iraq and India have solid oil relations that span decades

Location: Baghdad – Iraq

Language: Arabic

Duration: 00:03:52

Sound: Normal

Source: A24 subscribers

Restrictions: A24 clients

Dateline: 01/05/2022

Storyline

Iraq is one of India’s main oil suppliers getting more than third of the crude oil imports. India relies on oil imports from the Middle East, especially Iraq that covers 23% of its needs. Oil Marketing Company Oil (SOMO) sells Iraq’s oil by following the main criteria in contracting with large and medium sized international oil companies that are governmental or independently owned. Oil relations between Iraq and India span 60 years. Indian government contributed $200.000 recently to support UN team in Iraq investigating ISIS crimes regarding the use of biological and chemical weapons as well as obliteration of cultural sites.

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Soundbite (Hamza al-Jawahery – Oil expert and former Iraqi Oil Minister):

“50% of the major importers of Iraq’s oil 7-8 ago were in Asia, mainly China and India. 6 years ago however, 60% of the oil went to Asia, 25% to America and 25% to Europe. Now America and Europe do business with Africa which makes up 35% of Iraq’ oil imports. China and India are Iraq’s major oil importers.”

Soundbite (Raheem Al-Shammari – Economic journalist):

“India’s contribution of $200.000 to the UNITAD (Investigative Team to Promote Accountability for Crimes Committed by Daesh) was recently delivered through UN mission in New York for the purpose of investigating ISIS crimes regarding the use of biological and chemical weapons as well as obliteration of cultural sites in Iraq. The investigation needs judiciary, legality, procedures, international expertise and financial support as was provided by India in accordance with the close relations between Iraq and India spanning 60 hears.”