Iraq’s State Oil Marketing Organisation (SOMO) has informed its partners they can start loading Basra Heavy crude from May, instead of its flagship light grade, two sources with direct knowledge of the matter said on Friday. The No.2 OPEC producer is splitting its southern oil production into two streams – a light and a heavy grade – to resolve quality issues dogging its exports. SOMO told its partners that the new heavy grade could be loaded from single point mooring units 1 and 3 in southern Basra, the sources said. But two of its partners due to receive the heavy grade complained they had already sold Basra Light crude that was allocated to their companies 1-2 months ago for loading in April and May. “We were expecting it (the launch of Basra Heavy) to happen in June but it came earlier than expected,” said a source […]