SOMO definition

SOMO means Iraq Oil Marketing Company or its successors.
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SOMO means Iraq Oil Marketing Company
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SOMO means the Iraqi State Oil Marketing Organization.
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Examples of SOMO in a sentence

  • Any scheduled delivery of Export Oil affected by an event of Force Majeure or other interruption shall be rescheduled at the earliest available alternative lifting dates to be mutually agreed by SOMO and Contractor.

  • The price(s) of the crude oil to be delivered under this Agreement shall be the declared SOMO official selling price (OSP) for the scheduled Month of loading.

  • Under no circumstances shall an event of Force Majeure or any failure by SOMO to make deliveries of Export Oil lead to a reduction in the Petroleum Costs and Remuneration to which Contractor is entitled under the Contract.

  • Methods and procedures for measurement of volume and quality of Export Oil at the Delivery Point shall be as per standard practice of SOMO in respect of the Export Oil.

  • Unless agreed otherwise by the Parties, any inaccuracy determined during such calibration activities shall be deemed to have existed since the mid-point between the last calibration and the current calibration.Similarly, Export Oil that may be lifted by Contractor shall be measured at the Delivery Measurement Point in accordance with standard SOMO measurement practices.

  • In the event MLS-SOMO claims that Firm, Salesperson Party, or Consultant has violated the MLS- SOMO Policies, MLS-SOMO may, at its option, resolve such a claim according to the disciplinary procedures set out in the MLS-SOMO Policies.

  • Similarly, Export Oil that may be lifted by Contractor shall be measured at the Delivery Measurement Point in accordance with standard SOMO measurement practices.

  • If Firm or Salesperson Party chooses to engage a different consultant or additional consultants, Firm must enter into a new version of this Agreement with MLS- SOMO and each such consultant.

  • This Guarantee shall come into force on the Effective Date of the Contract and shall remain valid as long as ROC, Transporter, SOMO, and any other Affiliate of ROC or the Ministry of Oil, shall be bound by the Contract.

  • This Guarantee shall unconditionally and irrevocably extend to the obligations of Oil Marketing Company (SOMO), Transporter, and any Affiliate of ROC or the Ministry of Oil, which becomes a Party to the Contract and any references in the Guarantee to ROC shall be construed accordingly.


More Definitions of SOMO

SOMO means the Iraqi State Organization for Marketing of Oil;
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Related to SOMO

  • Panchayat means an institution (by whatever name called) of self-government constituted under article 243B, for the rural areas;

  • LHSIA means the Local Health System Integration Act, 2006, and the regulations made under it, as it and they may be amended from time to time;

  • Lacquer means a clear or opaque wood coating, including clear lacquer sanding sealers, formulated with cellulosic or synthetic resins to dry by evaporation without chemical reaction and to provide a solid, protective film.

  • POPIA means the Protection of Personal Information Act 4 of 2013;

  • Tabarru ” means donation for the purpose of solidarity and cooperation among the Takaful Participants and to be used to help all Takaful Participants in times of misfortune. In the context of the Company, Tabarru’ will be allocated into the Participants’ Risk Fund.