Page 17 - Basrah Medium News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Source: author, based on Thomson Reuters data. Today Europe’s share is half of what it was 3-4 years ago in absolute terms. Asia’s share, however, has risen in both absolute and relative terms. We have already touched upon the relative numbers, but the absolute volumes are just as indicative - Asia’s rise in importance for Iraq happened against the background of average annual exports dropping from 3.43mbpd in 2018 to 2.94mbpd in 2020. Iraqi exports to Asia (including Kirkuk) have averaged 2.3mbpd last year – of this, China and India alone account for almost 2mpbd, with 1.05mbpd and 0...

Commodity Tracker: 6 charts to watch this week Continuing the theme of strong commodity prices in early 2021, this week’s Tracker considers spikes and rallies across several products: rhodium, styrene and ethanol. Meanwhile, China shows enthusiasm for a new crude grade from Iraq; Japanese utilities stock up on LNG and Europe runs down its gas in storage. 1. Supply-constrained rhodium to potentially see more upside after all-time high What’s happening? Rhodium base prices have surged above $25,000/oz for the first time. The precious metal has been on multiyear bull run, rising forty-fold s...

China’s state-run refineries, modern integrated plants embrace new Iraqi Basrah Medium crude China is poised to receive about 21 million barrels of the new Iraqi crude grade Basrah Medium by mid March, with most of these shipments expected to be processed by the country’s integrated refining complexes and newly built plants, according to latest shipping data and refining industry sources with close knowledge of the matter. In January, Iraq’s State Oil Marketing Organization introduced the new Basrah Medium grade to split Basrah Light into two crudes to support the stability of its crude...

Iraq’s SOMO says demand for new Basrah Medium grade at least double current supply Iraq’s State Oil Marketing Organization is seeing “huge” demand for its new Basrah Medium crude grade — at least double the current available supply of 1.1 million b/d — but OPEC+ curbs may limit exports, the marketer’s deputy director general told S&P Global Platts. SOMO introduced the Basrah Medium grade in January after splitting its Basrah Light, the country’s biggest crude stream, in two to preserve the stability of exports and meet customer demands, Ali al-Shatari said in a Feb. 15 intervi...

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