Motorists queue to fill their tanks at a fuel station in Arbil, in Iraq's Kurdistan region June 24, 2014. REUTERS/Azad Lashkari
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Iraqi Kurdistan has sold a second cargo of about 1 million barrels of crude oil delivered via its new pipeline for $106 million, a spokesman for the regional government said, a steep discount compared to regional alternative sour grades.A quality assessment by a shipping agent of the oil in May, pegged the grade at around 31.3 degrees API with a sulfur content of around 2.7 percent.Separately, British oil and gas services group Petrofac reported a record order backlog of $20.1 billion Tuesday and said violence in Iraq had not so far affected its operations there.The group, Britain's largest oil services company, maintained its profit forecast for this year after downgrading it last month.
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