Iraq sets new specifications for Basra crude marketing
SOMO is using the launch of its new Basra Medium crude grade as an occasion to revamp the specifications for its flagship Basra Light and Basra Heavy, too.
Workers attempt repairs on the SPM-1 export buoy on Sept. 8, 2019. (Source: Basra Oil Company media office)
Iraq's State Oil Marketing Organization (SOMO) released updated specifications on Tuesday for all three of its southern crude grades, including the recently announced Basra Medium.
SOMO currently sells two grades of crude, Basra Light and Basra Heavy, via its southern export terminals. The creation of a third grade is expected to help Iraq deliver a more predictable product and attract buyers.
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