Basra Light

  • Iraq Revises Price Mechanism for 2021 Shipments

    Iraq Revises Price Mechanism for 2021 Shipments

    Tuesday, 24th November 2020

    Iraq’s Oil Marketing Company (SOMO) has introduced a new look pricing mechanism used to compensate buyers for fluctuations in the density of its crude exports, which will commence with shipments in 2021.

  • Iraq to Produce a New Grade of Crude Oil

    Iraq to Produce a New Grade of Crude Oil

    Tuesday, 3rd November 2020

    Iraq’s state-run Oil Marketing Company (SOMO) has announced its intentions to launch a third strain of crude oil export-grade called Basra Medium.

  • Iraq Resumes Sale of Basra Oil on DME

    Iraq Resumes Sale of Basra Oil on DME

    Tuesday, 23rd October 2018

    Iraqi state oil marketing company SOMO has sold Basra crude oil on the Dubai Mercantile Exchange (DME) for the first time since January.