SUBSCRIBER NOTE: Platts to publish Basrah Heavy crude OSP from May 11

After consultation with the industry, Platts will start publishing the official selling price for the new Basrah Heavy crude grade marketed by Iraq's State Oil Marketing Organization from May 11.

Iraq's SOMO confirmed in March that it would issue the OSP starting with May loadings.

The new grade, with a gravity of 25 to 26 API, has an OSP for loadings to Asia, Europe and the US.

The new OSP is a differential to the average of Oman and Dubai published by Platts for the month of loading for Asia, a differential to Dated Brent for Europe and a differential to the Argus Sour Crude Index for the US.

The assessments will be published on Platts Global Alert page 1059 and in the Platts assessment database under codes AAXUA00, AAXUC00, and AAXUE00 for the monthly differentials and under codes AAXUB00, AAXUD00, and AAXUF00 for the outright prices.