Wednesday, March 14, 2007
SOMO reduces crude oil price
Oil
(Iraq Daily Business Updates) An Iraqi oil official said on Monday that Iraq reduced its official selling price for Basrah light crude oil from April loading between 20 to 30 cent a barrel by destination. The Iraqi oil marketing company (SOMO) reduced the April price to American buyers by 20 cents compared to the figure in March for the second month in to be less than $ 6.90 from West Texas crude. April's price was also reduced to European buyers by 25 cents compared with the month of March to less than $ 5.70 from deferred ships fuel. Buyers in Asia will pay less than the prices of Oman / Dubai crude by $ 2.55 for deliveries in April, down 30 cents from March. Iraq exports around 1.5 million barrels a day of crude oil from the port of Basrah.
(Iraq Daily Business Updates) An Iraqi oil official said on Monday that Iraq reduced its official selling price for Basrah light crude oil from April loading between 20 to 30 cent a barrel by destination. The Iraqi oil marketing company (SOMO) reduced the April price to American buyers by 20 cents compared to the figure in March for the second month in to be less than $ 6.90 from West Texas crude. April's price was also reduced to European buyers by 25 cents compared with the month of March to less than $ 5.70 from deferred ships fuel. Buyers in Asia will pay less than the prices of Oman / Dubai crude by $ 2.55 for deliveries in April, down 30 cents from March. Iraq exports around 1.5 million barrels a day of crude oil from the port of Basrah.
Labels: Basrah, crude oil, foreign buyers, SOMO
