Following the lead of other national oil companies, Iraq is in the process of setting up a trading desk for refined products and crude oil and has initiated talks with a number of companies, a senior Iraqi official said on Tuesday. Iraq needs to "enter the value chain" and could have a joint venture in place by the end of 2016 or the start of next year, said Director-General Falah Alamri of Iraq's state marketing arm Somo. "We are in the process of partnering up with another company for crude oil and products," Alamri told the FT Global Commodities Summit in Lausanne, Switzerland, on Tuesday.
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