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Iraq extends bid deadline for crude prepayment deal

Category: Economy

Date: 2020-11-25T16:14:39+0000
Iraq extends bid deadline for crude prepayment deal

Shafaq News/ Iraq has extended the bid deadline on its first major crude oil prepayment deal to Dec. 4 instead of Nov. 27, according to sources familiar with the matter.

Iraq's state oil marketer SOMO sent a letter on Monday asking for bids for its first ever crude prepayment starting Jan. 2021 until Dec. 2025. Trading and banking sources said the original deadline was too tight to make coherent bids.

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