Somo compensation payments fall

摘要

Compensation payments made by Iraq's Somo when Basrah crude quality falls below certain levels have dropped since it overhauled the stream this year.State oil marketer Somo split the Basrah stream into three grades-Basrah Light,Basrah Medium and Basrah Heavy-in January and reconfigured the quality specifications for the grades.It made the adjustments after having to pay out large amounts of compensation when its previous offerings of Basrah Light and Heavy failed to meet their gravity requirements.Somo now lists Basrah Light gravity at 33°API,Basrah Medium at 29°API and Basrah Heavy at 24°API.Shipping data suggest that the gravity of Basrah Light loadings in January-April averaged 31.69°API,with Basrah Medium at 28.21°API and Basrah Heavy at 23.66°API.