Iraq sells first Basrah Light crude cargo through DME

摘要

Dubai-Iraq’s State Oil Marketing Organization, or SOMO, has sold its first cargo using the Dubai Mercantile Exchange’s auction platform, sources close to the company said Monday. The cargo will be loaded in June and the price is linked to Iraq’s official selling price for the month, the source said. Neither SOMO or the DME could be reached for a comment on the sale. SOMO earlier this month established a joint marketing company known as Limo with Litasco, the international marketing and trading arm of Russia’s Lukoil.