Iraq offers Basra crude at auction


A memo from Plattas showed that the Iraqi oil marketing company SOMO plans to sell up to four million barrels of Basra crude to be loaded in January at an auction on Plats on Friday.
SOMO plans to sell 2 million barrels of Basrah Light crude for loading January 20 and another 2 million barrels from Basra heavy load on Jan. 23. Both displays are fixed.
Oil can be purchased as a single shipment of 2 million barrels or divided by two million barrels per day.
Platts will publish confirmed offers from SOMO customers by 3:45 p.m. Singapore Time (0745 GMT) and will remain in effect until 0900 GMT.
This will be the second auction for SOMO on Platts. The company did not give the shipment it offered at the first auction last month.

Leave A Reply