In Freight News 20/03/2015
OPEC’s second largest producer Iraq has notified its partners that it plans to start splitting its southern oil production into two grades and offer a heavier type of crude from May onwards, sources with knowledge of the matter said.
Iraq’s State Oil Marketing Organization (SOMO) said it will allocate Basra Heavy crude, with an API gravity of 24 degrees, to companies with technical service contracts, the sources said.
Iraq awarded these contracts to companies such as Lukoil , Petronas, CNPC, CNOOC, BP, ExxonMobil and Royal Dutch Shell to develop its southern oilfields.
SOMO could not be immediately reached for comment.
