SINGAPORE  -

* Iraq's SOMO has sold 2 million barrels of Basra Light crude for end-February loading at a strong premium of $1.30-$1.40 a barrel to its official selling price (OSP), trade sources said on Thursday

* Exxon Mobil has likely bought the cargo loading on Feb. 27-28, which is expected to head to Europe, they said

* Tighter sour crude supplies in Europe and competitive Basra crude prices against similar quality Russian Urals have supported Basra's crude premiums, one of the sources said

(Reporting by Florence Tan, Editing by Sherry Jacob-Phillips) ((Florence.Tan@thomsonreuters.com; +65 6870 3497; Reuters Messaging: florence.tan.thomsonreuters.com@reuters.net))