basra light crude oil

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Basra light

Basra Light and Basra Heavy

Crude oil found in Iraq varies significantly in quality, with API gravities generally ranging from 22° (heavy) to 35° (medium - light). Over 70% of national oil reserves are below 28° API and the International Energy Agency (IEA) predicted in its 2012 report on Iraq that future production is likely to include a larger share of heavier crudes. However some of the crudes produced at the Taq Taq field in the northern semi-autonomous Kurdistan region are as light as 48° API, dubbed by Reuters as "champagne crude". 



EXPORT BLENDS

The main export crudes come from Rumaila and Kirkuk, the two largest active fields. The two blends used for export are the Basra Light blend, transported by tanker from the south, and the Kirkuk blend, by pipeline to the north. In terms of quality, the Basra Light blend is in the middle of the market, close to the global average density of close to 32.5° API

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