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Iraq’s SOMO to resume oil exports from Ceyhan: sources

Italy’s Eni will load a cargo of about 600,000 barrels loading on Nov. 29 with Lukoil’s trading arm Litasco

Published: Updated:

Iraq’s state oil marketer SOMO will sell its first cargoes out of the Turkish port of Ceyhan since March at the end of November after reaching a deal with the Kurdistan Regional Government last week, market sources said on Wednesday.

The oil will be a blend of Kurdish crudes, the sources said.

Italy’s Eni will load a cargo of about 600,000 barrels loading on Nov. 29 with Lukoil’s trading arm Litasco expected to pick up another, a regional shipping source and a trader said.

SOMO approached its clients following the deal with the KRG to see if they would be interested in buying the crude, traders said, at the official selling price for Iraq’s usual grade out of Ceyhan, Kirkuk.