What Basrah Medium is
Basrah Medium is one of the main crude oil grades exported from southern Iraq. It is classified as a medium crude by density and as sour by sulphur content, placing it between lighter, sweeter grades and heavier, higher-sulphur grades such as Basrah Heavy. It is widely processed by refiners configured for medium sour crude.
Iraq as origin
Basrah Medium is loaded at the southern Iraqi export terminals on the Arabian Gulf, near Basrah. Southern Iraq is the country's principal crude export region. For the wider regional picture, see the Iraq market page.
General characteristics
Basrah Medium's defining characteristics are its medium density and its sour (sulphur-bearing) nature. The two technical measures most often referenced are API gravity and sulphur content:
| Crude type | Medium, sour |
|---|---|
| Origin | Southern Iraq (Basrah Gulf terminals) |
| API gravity | Medium range (indicative, cargo-dependent) |
| Sulphur | Sour — relatively high sulphur (indicative, cargo-dependent) |
| Typical terms | FOB / CIF, Incoterms 2020 |
Typical, indicative characteristics only. Actual API gravity and sulphur vary by cargo and loading; final contractual specifications prevail.
API gravity, explained
API gravity is a measure of how heavy or light a crude oil is compared with water. Higher API means a lighter crude; lower API means a heavier one. Basrah Medium sits in the medium range. API gravity affects refining yield and value. See What is API gravity?
Sulphur content
Sulphur content determines whether a crude is "sweet" (low sulphur) or "sour" (higher sulphur). Basrah Medium is a sour crude. Sulphur influences the processing required and the specification of the products refined from it. See What does sulphur content mean?
International trading and FOB structure
Basrah Medium is traded internationally, commonly on FOB terms at the load port or CIF to the discharge port. Under FOB, risk and title transfer as the cargo is loaded; the buyer arranges onward freight and insurance. Under CIF, the seller arranges carriage and insurance to the destination port. See FOB vs CIF in oil trading.
Laycan and loading
A cargo is nominated against a laycan — the agreed window during which the vessel must arrive to load. The vessel is nominated and accepted, arrives within the laycan, tenders Notice of Readiness and loads. See What is a laycan? 3FB Energy & Trade coordinates shipping and logistics for the cargoes it trades.
Independent inspection
Quantity and quality are determined by an independent inspection company at the load port, with sampling and certification. Inspection companies commonly used in commodity trading include SGS and Intertek, among others. See independent inspection and how independent inspection works.
Trade documentation
A crude oil cargo moves against a standard set of commercial and shipping documents, presented to secure payment:
- Bill of Lading (B/L) — title and evidence of shipment
- Certificate of Origin
- Certificate of Quantity and Certificate of Quality
- Commercial invoice
- Inspection certificates
Letters of Credit and payment
International crude transactions are frequently settled through documentary trade finance, most commonly a Letter of Credit (LC), under which the buyer's bank pays against compliant documents. See trade finance and how Letters of Credit work.
Pricing benchmarks
Basrah Medium is sold on formula pricing referenced to regional benchmarks rather than at a flat fixed price. Formula pricing links the cargo price to published benchmark levels around the time of loading. See how crude oil pricing works.
Buyer inquiry procedure
To enquire about Basrah Medium, share your target volume, delivery basis (FOB/CIF), discharge port, timing and preferred payment method. The trading desk will respond with an indication, subject to availability, compliance review and definitive agreement.