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[You must be registered and logged in to see this image.] Sources: Iraq sells Basra light crude to the UNIPEC at a premium of 40 cents a barrel
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Iraq's oil marketing company Sumo sold two million barrels of Basrah Light crude on January 20 to UNIPEC at a premium of 40 cents a barrel above the official selling price, commercial sources said. One source said the shipment brought a strong price premium because Sumo allowed the buyer to declare the shipment 14 days after the issue of the bill of lading rather than the usual procedure for the announcement three days earlier. He explained that this gives flexibility to sell the shipment east or west on the side that will bring higher value. On the other hand, Sumo did not sell two million barrels of Basra heavy crude, which it also put on Platts auctions, according to sources. [You must be registered and logged in to see this link.] |
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