The Mechanisms of Pricing Iraqi Crude Oil and It's Reflect On the Trends of Export (2003-2013)


Oil is considered the most important source for providing the funds for the national economic sectors. The revenues of oil constitute %95 of the GPD. Therefore, the development of the remaining sectors depend on oil..The Iraqi Oil Marketing Organization (SOMO) depended on the a unified price for all the buyers, That may not reflect the real value of market and did not contribute in marketing the type of heavy oil. Then, to what extent had SOMO been able to market the light and heavy crude oil in a way that contains the expected increase in the crude oil production.