Iraq plans to bid for Basra heavy crude on Dubai Mercantile Exchange


The Iraqi oil marketing company (SOMO) will bid on the bourse on Tuesday to sell a 2 million-barrel shipment of heavy Basra crude destined for Asia, the Dubai Mercantile Exchange said on Monday.
The shipment is scheduled to be shipped between February 15 and 16.
The bourse said the minimum bid was 1 cent per barrel above the official sale price of crude.
A commercial source said the company could sell another 2 million barrels of Basra light crude for loading in February in a separate bid on Wednesday.

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