Iraq to start Basra Heavy crude supply from June
SINGAPORE, April 28, 2015
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 said.
"They told us that they will start supplying Basra Heavy against entitlements beginning June instead of May," one of the sources said, citing an overnight notice from Somo.
The change in launch dates will not affect the quality of Basra Light exports in May as it meant the segregation of oil at the southern Iraqi port will not happen until June, he added.
The No 2 Opec producer is splitting its southern oil production into two streams - a light and a heavy grade - to resolve quality issues dogging its exports.
Somo's partners include BP, CNPC, Lukoil, CNOOC, Total and Petronas. --Reuters
