Bloomberg News

Iraq to Boost Basrah Oil Exports to 19 Cargoes in Next Two Weeks

February 15, 2012

Feb. 15 (Bloomberg) -- Iraq will ship 19 cargoes of Basrah Light crude for loading in the second half of February from the Persian Gulf, two more than in the first half of this month, according to a loading program obtained by Bloomberg News.

A total of 30.06 million barrels, or 2.15 million barrels a day, will be loaded from Basrah Oil Terminal, the plan shows. The schedule comprises 10 cargoes of 2 million barrels each, two shipments of 1.9 million barrels, five 1 million-barrel lots and two 630,000 barrel consignments.

Basrah Light has a density of 30.2 degrees on the American Petroleum Institute scale and a sulfur content of 2.92 percent, according to BP Plc. That makes it a so-called medium sour crude, which yields less higher-value products such as gasoline and diesel compared with benchmark Dated Brent.

Loading programs are schedules of crude shipments compiled by field operators to allow buyers and sellers to plan their supply and trading activities.

--Editors: Raj Rajendran, Alessandro Vitelli.

To contact the reporter on this story: Sherry Su in London at lsu23@bloomberg.net

To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net


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