Changes in Hong Kong stocks | Anton Oilfield Services (03337) rose more than 7% and obtained an Iraqi crude oil sales qualification upgraded to a company with the entire crude oil industry chain

The Zhitong Finance App learned that Anton Oilfield Services (03337) rose by more than 7%. As of press release, it had risen 7.39% to HK$0.945, with a turnover of HK$8.577 million.

According to the news, Anton Oilfield Services announced a few days ago that the group obtained approval from the Iraqi Ministry of Petroleum on September 6, signed a long-term cooperation agreement with the Iraqi National Petroleum Sales Company (“SOMO”), obtained crude oil sales qualifications, and became Iraq's designated crude oil export sales partner. The signing of this long-term cooperation agreement on crude oil sales will enable Anton to become the only Chinese independent oil and gas energy company in the Iraqi market that also has oilfield technical services, oil and gas resource development, and crude oil sales and service qualifications.

According to the agreement, the Group obtained the right to raise oil from the Iraqi National Petroleum Company's own oil fields and general long-term sales cooperation qualifications to help open up financial settlement channels for crude oil sales to oil and gas development service providers, including helping to link crude oil buyers and traders, coordinating crude oil shipment arrangements, etc., actively promoting resource monetization and supporting relevant enterprises in the Iraqi oil and gas industry ecosystem, such as the settlement needs of contractors. At the same time, the Group will also act as a general long-term oil supplier to help SOMO increase its market share.