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Basra Light Premium hits Multi-Year High

By John Lee. Reuters reports that spot premiums for Basra Light crude hit a multi-year high on Thursday, after Iraq cut supply of the grade to export more of its new Basra Heavy oil in June. Traders told the news agency that the premium for June-loading Basra Light surged to more than $1 a barrel […]

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Basra Oil Terminal (ABOT) 650x416

Increased Basra Heavy Oil Volumes

By John Lee. A report from Argus claims that Iraq has scheduled greater-than-expected initial volumes of its new Basra Heavy crude oil grade. The State Oil Marketing Organization (SOMO) plans to load more than 1.2 million bpd of Basra Heavy in June, boosting total Iraqi sales from its southern export terminals to a record high […]

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IDP Camp in Basra, a Story of Social Cohesion

The 5-Miles IDP Camp in Basra, a Story of Social Cohesion The opening ceremony of new shops managed by internally displaced persons in the popular al-Asri market, 5 miles off the city of Basra, marks a story of success. Following a fire in a community of displaced people in Tannoma District, 300 families (2,000 people) […]

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Basra Heavy Crude Delayed Further

By John Lee. Iraq’s new Basra Heavy crude grade is now expected to be further delayed. Reuters quotes sources as saying that the State Oil Marketing Organization (SOMO) has informed oil companies that it will start supplying Basra Heavy against entitlements from June instead of May. (Source: Reuters)

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IHEC Rejects Basra Autonomy Bid

By John Lee. Iraq’s Independent High Electoral Commission (IHEC) has reportedly rejected a request for referendum to make Basra an autonomous region. Anadolu Agency reports that Commission said it had received an official request from Basra city that included the signatures of 44,366 citizens, but the lists were missing the signatories’ identification numbers and ration […]

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Technip wins Basra Refinery Contract

By John Lee. France’s Technip, in partnership with UNICO, a Japanese engineering consultant, has been awarded a Project Management Consultancy (PMC) contract on a reimbursable basis, for the upgrading of the Basra refinery. This contract, awarded by Ministry of Oil’s South Refineries Company (SRC), covers the engineering, procurement, construction, commissioning, start-up and warranty management phase […]

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Basra Lab achieves ISO/IEC Accreditation

RSK’s combined geotechnical-chemical laboratory just outside Basra has achieved accreditation to ISO/IEC 17025:2005, the international standard for competence of testing laboratories. The ISO/IEC 17025:2005 accreditation, which was awarded by the Gulf Cooperation Council Accreditation Centre, an accredited body of the International Laboratory Accreditation Cooperation (ILAC) in March 2015, specifies the general requirements required for a […]

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New Prices for Iraqi Oil, but Basra Heavy ‘Delayed’

By John Lee. Iraq’s State Oil Marketing Organisation (SOMO) has adjusted its official selling prices for its Basra and Kirkuk crude oil for May. It has also issued separate prices for its new Basra Heavy grade, giving a significant discount to the more desireable Basra Light, but Reuters cites industry sources as saying that shipments […]

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