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Network & Regions

Basra, Iraq

The outlet for almost all southern Iraqi crude. We arrange VLCC freight, voyage planning and inspection for Basrah grades loading offshore.

Offshore oil terminal platform with a VLCC alongside in open water

Iraq is OPEC's second-largest producer, and almost all its southern crude loads offshore near the Al-Faw peninsula. The Al Basrah Oil Terminal has four VLCC berths, and several single point moorings add capacity.

Exports fell sharply after March 2026 and recovered to more than 2.2 million barrels a day in August. We fix VLCCs, plan voyages around Gulf conditions, and screen every cargo and counterparty before loading.

4VLCC berths at the Al Basrah Oil Terminal
21 mMaximum draft at the terminal
2.2M+ b/dExports in August 2026, the post-war high
–$2.80/bblNovember 2026 Basrah Medium price to Asia vs Oman/Dubai

How Basrah crude is priced

SOMO, Iraq's state oil marketer, sets monthly official selling prices: against Oman/Dubai for Asia, Dated Brent for Europe and the Argus Sour Crude Index for the Americas. Grades loading here are Basrah Medium and Basrah Heavy.

  • VLCC freight from Basra
  • Voyage planning, war-risk and routing
  • Independent quantity and quality inspection
  • Tracking to Asian, European and American refiners

Loading in the Gulf today

Shipping through the Strait of Hormuz has been disrupted since March 2026. In October 2026 the strait was partly open but contested, with frequent security incidents. Voyage planning now includes war-risk insurance, routing advice and contingency timing.

Iraq is also developing northern pipeline routes to reduce its dependence on the strait.

Frequently asked questions

Which grades load at Basra?

Basrah Medium and Basrah Heavy.

Can VLCCs load at Basra?

Yes, at the Al Basrah Oil Terminal and the single point moorings.

How are Basra cargoes priced?

At monthly SOMO official selling prices against regional benchmarks.

BasraIraqSOMOBasrah MediumVLCCHormuz

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Send grade, volume and laycan. We will propose VLCC freight and voyage planning.

Request Basra freight