Thursday, 09 May 2013
Shafaq News / Iraqi Oil Marketing Company (SOMO) said on Thursday that Iraq has raised the price of June's shipments of Basra Light crude for Americans, Europeans and Asians buyers.
Iraq, a member of OPEC crudes rose last Friday by two dollars and 50 cents to settle at 101.47 $ a barrel after it was 98.97 $ a barrel last Thursday.
Somo said that Iraq raised the price of June shipments to American buyers by 20 cents to the level of at least 1.90 $ per barrel for Argus index, according to Reuters.
June price determined the price for Asian buyers at a discount of 15 cents a barrel for the Average crude Sultanate of Oman and Dubai against a discount of 70 cents for the previous month.
Basra crude price was determined for European buyers, including at least 3.35 $ for the instant price for North Sea crude compared with a discount of 4.85 $ from the previous month.
Iraq produces about 3 million barrels daily and exports of 2.6 million barrels a day through Basra ports in the south and the pipeline linking Kirkuk with the Turkish port of Ceyhan on the Mediterranean.
Oil Marketing Company (SOMO) is specialized in the Marketing of Iraqi Crude oils (Basrah Light and Kirkuk crudes) through the export terminals such as (Basrah, Khor AL-Amaya and Ceyhan terminals). Oil Marketing Company SOMO is also responsible for exporting of Fuel oil product and some of oil products (subject to availability) and cover the Iraqi local consumption needs of oil products (Gasoline , Gasoil , Kerosene and LPG)
© Shafaq News 2013
