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Iraq’s State Oil Marketing Organization may sell some spot cargoes of Basrah Light this year if the deepwater Khor al-Amaya terminal is re-opened and domestic refiners’ needs have been met, the marketer’s deputy director general told S&P Global Platts on Jan. 20. SOMO excluded Basrah Light, previously its main stream until the creation of Basrah ...
Asian refiners were disappointed once again by Middle Eastern official selling prices, with a lower-than-expected reduction likely to drive the refiners to the spot market
Iraq’s oil exports, including volumes from the semi-autonomous Kurdistan region, rose 0.5% in December, despite an increase in its OPEC+ quota, according to oil ministry data and local shipping agents’ reports from Turkey’s Ceyhan terminal seen by S&P Global Platts. Total oil exports in OPEC’s second-biggest producer rose to 3.677 million b/d in December, from ...
South Korea’s imports of US crude oil are estimated to have to surpassed 120 million barrels in 2021, and the country is expected to maintain its top Asian US crude buyer status in 2022 as local refiners greatly favor North American feedstocks due to uncertainties over OPEC supply and attractive procurement costs. The country’s major ...
Despite fears surrounding the COVID-19 variant Omicron, Saudi Arabia has decided to capitalize on strong crude demand in Asia by raising its OSPs once again