Iraq's State Oil Marketing Organisation (Somo) has informed its partners they can start loading Basra Heavy crude from June, changing last week's decision to launch the new grade in May, two sources with direct knowledge of the matter
Iraq's State Oil Marketing Organisation (Somo) has informed its partners they can start loading Basra Heavy crude from May, instead of its flagship light grade, two sources with direct knowledge of the matter said.
Iraqi state oil marketer Somo issued a rare statement denying there is a price war within the Opec exporter group, saying recent reductions to its official selling prices (OSPs) were influenced only by the market.
The statement, w
Iraq has cut the official selling price (OSP) to Asia and the US in January for its main crude oil export grade, Basrah light, but raised the OSP slightly to Europe, the state oil marketing company said.
Iraq's state oil marketer Somo will sell its first cargoes out of the Turkish port of Ceyhan since March at the end of November after reaching a deal with the Kurdistan Regional Government last week, market sources said.
Iraq's State Oil Marketing Organisation (Somo) has proposed splitting its Basra Light crude supply into two grades and has requested feedback from buyers in Asia, trade sources said.
The second largest Opec
Kurdistan has not agreed to export crude via Iraq's State Oil Marketing Organisation (Somo), a spokesman for the autonomous region's government said on Thursday, contradicting earlier comments by a top energy official in Baghdad.
Iraq's oil exports rose to 2.565 million barrels per day (bpd) on average in August, their highest level for three decades, the head of the State Oil Marketing Organisation (SOMO) told Reuters on Saturday.
Iraq exported 2.516
Iraq's oil production will reach 3 million barrels per day (bpd) by the end of this year from its current output of 2.9 million bpd, the Iraqi oil ministry said on Monday.
The ministry said crude exports from the Opec member were expec