Iraq to relaunch Basrah Light crude next year

摘要

Amman, Jordan-Iraq will aim to produce and export 1 million b/d of a new light grade in 2019, according to oil minister Jabbar al-Luaibi, under a plan to boost revenues and offer customers crudes with tighter specifications. Iraq’s State Oil Marketing Organization currently sells two grades-Basrah Heavy and Basrah Light-but plans to rebrand Basrah Light crude, which has an API gravity of 29-30, as Basrah Medium, and launch a new Basrah Light with an API gravity of 34-40, SOMO Deputy Director General Ali Nazar revealed last week at S&P Global Platts Asia Pacific