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Iraq has companies to start loading Basrah heavy in next May
04/25/2015
Informed the Iraqi Oil Marketing Company (SOMO) partners that they can start downloading Basrah heavy rather than the main light crude starting next May.
Reported Sumo partners that they can new heavy crude download south of Basra from.
But the two partners is scheduled to Atzlma heavy crude said they sold already Basra Light crude, which was devoted to their companies a month ago or two for download in April and May.
He said a company source, who declined to be named , following company policy, "we expect (the launch of Basrah heavy) in June, but it happened sooner than expected."
The source added, "This may affect about 30 million barrels of crude that has already sold ore light at the official price for the sale of crude."
The (SOMO) has announced earlier this month, the first official price for the sale of Basrah heavy although it did not allocate any amounts to its partners in the loading of the May program.
Among the Sumo BP partners CNPC and Lukoil and CNOOC, Total and Petronas .
In a related context, to Reuters data and major agencies on energy showed that the leading exporters of crude oil in the Organization of Petroleum Exporting Countries (OPEC) are pumping more than required by about two million barrels per day, which is the largest surplus in at least ten years.
The Reuters data showed that the (OPEC) produced 30.27 million barrels per day in the first quarter of this year. The US Energy Information Administration is expected that OPEC increase production further to about 30.36 million barrels per day in the second quarter.
Analysts say the key members of OPEC, including Saudi Arabia, Iraq, Kuwait and the UAE have increased production in recent months in an attempt to boost their shares in the market such as the possible lifting of sanctions Economic imposed on Iran.
But the demand for OPEC oil is much less than this level. Says head of views on the prospects of the oil sector, including OPEC and the International Energy Agency said demand for OPEC crude stood at 28.34 million barrels per day on average in January - March is expected to rise slightly to 28.37 million barrels per day in the next quarter.
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04/25/2015
Informed the Iraqi Oil Marketing Company (SOMO) partners that they can start downloading Basrah heavy rather than the main light crude starting next May.
Reported Sumo partners that they can new heavy crude download south of Basra from.
But the two partners is scheduled to Atzlma heavy crude said they sold already Basra Light crude, which was devoted to their companies a month ago or two for download in April and May.
He said a company source, who declined to be named , following company policy, "we expect (the launch of Basrah heavy) in June, but it happened sooner than expected."
The source added, "This may affect about 30 million barrels of crude that has already sold ore light at the official price for the sale of crude."
The (SOMO) has announced earlier this month, the first official price for the sale of Basrah heavy although it did not allocate any amounts to its partners in the loading of the May program.
Among the Sumo BP partners CNPC and Lukoil and CNOOC, Total and Petronas .
In a related context, to Reuters data and major agencies on energy showed that the leading exporters of crude oil in the Organization of Petroleum Exporting Countries (OPEC) are pumping more than required by about two million barrels per day, which is the largest surplus in at least ten years.
The Reuters data showed that the (OPEC) produced 30.27 million barrels per day in the first quarter of this year. The US Energy Information Administration is expected that OPEC increase production further to about 30.36 million barrels per day in the second quarter.
Analysts say the key members of OPEC, including Saudi Arabia, Iraq, Kuwait and the UAE have increased production in recent months in an attempt to boost their shares in the market such as the possible lifting of sanctions Economic imposed on Iran.
But the demand for OPEC oil is much less than this level. Says head of views on the prospects of the oil sector, including OPEC and the International Energy Agency said demand for OPEC crude stood at 28.34 million barrels per day on average in January - March is expected to rise slightly to 28.37 million barrels per day in the next quarter.
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