First cargo of Iraqi Basra Medium oil bought by India's IOC: data, source
January 6, 2021, 11:34 am

First cargo of Iraqi Basra Medium oil bought by India's IOC: data, source

he Baiji oil refinery is Iraq's biggest refinery (Reuters: File photo))

Indian Oil Corp (IOC), the country's top refiner, has loaded its first cargo of Iraq's new Basra Medium crude grade which was introduced this year, according to ship tracking data from Refinitiv Eikon and a source with knowledge of the matter.

IOC loaded the cargo onto Minerva Kalypso, a suezmax-sized vessel, which left Iraq's southern port of Basra on Jan. 4, the data showed. The ship is expected to arrive at Chennai port in southeastern India around Jan. 14.

Iraq has increased Basra crude exports by introducing this new grade after the Organization of the Petroleum Exporting Countries and its allies agreed to raise output by 500,000 barrels per day (bpd) in January.

"From this year IOC will get all three grades - Basra Light, Basra Medium and Basra Heavy - depending on the availability with the supplier," the source said, adding that the 1 million barrels of Basra Medium crude would go to IOC's subsidiary Chennai Petroleum Corp.

Chennai Petroleum and Indian Oil Corp did not immediately respond to requests for comments.

Along with Chennai Petroleum, IOC controls about a third of the 5 million bpd of refining capacity in India.

Iraq's state oil marketing company (SOMO) launched the new sour crude grade in January by splitting the existing Basra Light production into two grades to provide better quality stability.

"Basrah Medium helps fill the gap of a shortage of heavy oil globally due to sanctions on Iran and Venezuela, declining production in Colombia and Mexico and OPEC+ quotas," analytics

firm Kpler said.

source: Reuters

Image source: Reuters

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”