Iraq: Iraq’s Oil Inspector General Fails to Investigate Loss of $250m by SOMO: MP

Apr 28, 2019 | Sangar Ali, Kurdistan 24
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The Oil Ministry’s Office of the Inspector General has failed to investigate and find the causes that led to the waste of $250 million by the state oil-marketing company SOMO, a member of the Oil and Energy Parliamentary Committee, Jamal al-Mahmoudawi, said on Sunday. The committee obtained information and documents which shows that Iraq’s State Organization for Marketing of Oil (SOMO) company has paid delay penalties due to a delay in loading crude oil tankers from the southern export ports and exceeded $250 million for 2015, 2016, and 2017, according to Mahmoudawi.