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Iraqi Oil Delivered to Russia’s state-owned oil giant
Gazprom Neft (ticker: GZPFY), the oil arm of Russia’s state-owned Gazprom (ticker: OGZPY), announced today that it has received the first shipment of Kirkuk grade oil from the Iraqi government. The crude oil was given to Gazprom Neft as compensation for the company’s investment in the field’s development, according to the company release.  

The first batch of oil from Iraq’s State Oil Marketing Company (SOMO) was 500 MBO, which the company plans to sell to a large unnamed Asian company.

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