By John Lee.
Iraqi oil minister Thamir Ghadhban has reportedly said he plans to offer a new Basrah Super Light grade, with up to 38 API gravity, in the next few years.
According to S&P Global Platts, he added that this would depend on the development of the country's southern fields.
A Basrah Medium grade, with an API gravity of 29-30 and 2 percent sulfur, is dependent on refurbishments to Iraq's southern export and storage terminals.
(Source: S&P Global Platts)