Tag Archives | Basra Heavy crude

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)

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 […]

Splitting Basra Crude "Makes Sense"

By John Lee. Reuters reports that Iraq's plan to split its Basra crude into 'heavy' and 'light' grades from May should reduce quality issues dogging its exports, but adds that there will be challenges getting the price it wants and setting up the required infrastructure. An official at the state-run South Oil Company (SOC), who […]

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 […]