Middle East Economic Survey


No 3


SOMO To Cut Basrah Exports On Water Injection Problems, Reservoir Performance

Iraqs State Oil Marketing Organization (SOMO) has informed term lifters that it is cutting allocations of Basrah Light crude by 10% from 1 February through to the end of June. This will mean a reduction from programmed Basrah Light exports of 1.6mn b/d to around 1.45mn b/d. SOMO said that the decision to reduce nominations was taken for technical reasons. But...