Iraq to Sell Heavy Basra Crude from May

By John Lee.

Reuters cites sources as saying that Basra Heavy crude, with an API gravity of 24 degrees, will be sold from May.

It will be allocated to companies with technical service contracts, such as Lukoil , Petronas, CNPC, CNOOC, BP, ExxonMobil and Shell.

The State Oil Marketing Organization (SOMO) had previously abandoned plans to split its oil shipments into heavy and light grades due to logistical problems.

(Source: Reuters)

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