Iraq Cuts Crude Supplies to Asia in July

• Tuesday, 16th June 2020
• by Editorial Team

Iraq’s Oil Marketing Company (SOMO) has made significant cuts in Basra crude supplies to Asia for the upcoming July as Iraq steps up efforts to comply with OPEC+ cuts, according to Reuters. For July, Iraq’s Basra crud...

SOMO Sells November Light Crude at Higher Premium

• Monday, 30th September 2019
• by Editorial Team

Iraq’s Oil Marketing Company (SOMO) has sold 2 million barrels of November-loading Basra Light at a higher premium, traders said on September 30, according to Zawya citing Reuters. SOMO sold the 2 million barrels at a...

Iraq Fails to Sell Shipment of Basra Crude

• Wednesday, 20th December 2017
• by Editorial Team

Iraq failed to sell a cargo of two million barrels of Basra Heavy during an auction on the Dubai Mercantile Exchange yesterday, Reuters reports. Iraq’s Oil Marketing Company (SOMO) did not receive any bids for the shi...

Iraq to Auction 4M Barrels of Oil

• Monday, 18th December 2017
• by Editorial Team

Iraq will offer up to four million barrels of crude in a Platt’s auction this week, Reuters reports. The auction is to be held on Friday, according to the news agency. Iraq’s Oil Marketing Company (SOMO) will be offer...

Iraq to Shift Price Benchmarks for Asia

• Monday, 21st August 2017
• by Editorial Team

Iraq will adopt a new crude-oil benchmark for its Asian exports, Reuters reports. Iraq’s Oil Marketing Company (SOMO) announced to its customers that it will cease using the average of Platts’ Oman-Dubai prices to set...