Exports begin of new Iraqi Basrah Heavy crude

: Crude oil
15/06/01

Iraq has begun exporting its new Basrah Heavy crude from its southern terminals.

Shipping data show the tanker Olympic Lion loading a 2mn bl cargo today at one of Iraq's three offshore single point moorings (SPMs), from which all Basrah Heavy cargoes will load. The lifter is India's Reliance, according to the grade's loading programme for June.

Iraq has prepared a segregated pipeline and export system for the new grade, including three storage tanks and new pipelines from the West Qurna-II field to the Tuba tank farm. According to a provisional assay for the grade, West Qurna-II is one of five fields from which crude will be blended to create Basrah Heavy. The other four are Halfaya, Garraf, Nassiriya and Tuba.

Iraq's flagship crude was split into heavy and light streams in response to buyers' complaints of unpredictable and variable quality of crude loaded at Iraq's southern terminals.

Basrah Heavy is expected to have a gravity of around 23.55˚API and sulphur content of around 4.2pc. Around 1.2mn b/d has been allocated for June export.

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