Sources: Iraq is selling heavy Basra crude at a high premium

by **claud39** Wed Feb 20, 2019 7:45 am

http://economy-news.net/content.php?id=15459

Sources: Iraq is selling heavy Basra crude at a high premium

20/02/2019

Economy News _ Baghdad

"The Iraqi oil marketing company (SOMO) sold 1 million barrels of Basra heavy crude for loading on March 27-31 at a higher premium than the previous tender,
" the sources said. "The shipment was sold to China Oil at a price of $ 1.40-1.50 per barrel Above the official sale price of crude to Asia. "
The sources said that" Sumo did not allocate any amount of Basra heavy crude to the owners of technical service contracts and that means that no company, except for Sumo, shipments resold on the spot market. "
The US sanctions On Iran and Venezuela and production cuts implemented by the Organization of Petroleum Exporting Countries (OPEC) also
sold the world's heavy crude, and in the previous tender, Sumo sold 2 million barrels of heavy Basra crude for March to SK Energy at a premium of $ 1.10 a barrel above the official sale price of crude to Asia.