All contracts would be finalized in the coming days.
"We understand that SOMO would like more crude to move East. The pricing is more attractive," said a term lifter in Asia.
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Iraq To Supply Basra Crude
Iraq has signed contracts for supply of Basra Light crude to the Far East
Iraq has signed contracts for supply of Basra Light crude to the Far East for the second half of 2004 (from July 1 through to December 3) for 1.5 million barrels per day of sales and aims to reach a total 1.65 million bpd.
The source at State Oil Marketing Organization informed the final volume will be slightly above the 1.6 million bpd the company exported in the first six months of the year.
All contracts would be finalized in the coming days.
Demand for Basra Light didn?t disappear despite the blast by saboteurs of a section of a key supply pipeline to the Basra terminal in May.
"We understand that SOMO would like more crude to move East. The pricing is more attractive," said a term lifter in Asia.
All contracts would be finalized in the coming days.
"We understand that SOMO would like more crude to move East. The pricing is more attractive," said a term lifter in Asia.
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