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Iraq Cuts its Basra Light Crude Oil Blend

By Gerald Jansen, for Oil Price. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Iraq Cuts Its Once-Popular Basrah Light Crude Oil Blend

When Iraq introduced Basrah Medium into its portfolio of crude grades, it was believed that a stricter delineation of qualities could finally put an end to Baghdad’s perennial challenge of maintaining quality parameters.

As it seems, however, that optimism has fizzled out completely by now.

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The post Iraq Cuts its Basra Light Crude Oil Blend first appeared on Iraq Business News.

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Iraq could introduce Basrah Super Light oil grade

By John Lee.

Iraqi oil minister Thamir Ghadhban has reportedly said he plans to offer a new Basrah Super Light grade, with up to 38 API gravity, in the next few years.

According to S&P Global Platts, he added that this would depend on the development of the country’s southern fields.

A Basrah Medium grade, with an API gravity of 29-30 and 2 percent sulfur, is dependent on refurbishments to Iraq’s southern export and storage terminals.

Iraq currently ships Basrah Light and Basrah Heavy, which it introduced in mid-2015.

(Source: S&P Global Platts)

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Iraq to launch new “Basrah Medium” Crude Oil Grade

By John Lee.

Platts reports that Iraq plans to launch a new Basrah Medium crude oil grade “whenever logistics allow,” to provide “more stability” in existing grades.

It quotes Ali Nazar al-Shatari, the Deputy Director General of the State Oil Marketing Organization (SOMO) as saying the new grade will have an API gravity of 29-30 degrees, with 2 percent sulphur.

Basrah Heavy will remain largely the same at 23 degrees API and 4 percent sulphur, while Basrah Light will be become even lighter, rising to 34 API degrees, up from an average of 29-31 degrees currently.

(Source: Platts)