Iraq has announced the launch of a new tender for the sale of a quantity of Basra Heavy crude oil. The transfer operations for this shipment will take place from vessel to vessel off the Omani coast, in an area
strategically located outside the Strait of Hormuz. Information indicates that the offered shipment totals two million barrels and will be delivered under the Free On Board (FOB) system for loading during the period from September 27th to 30th. Thursday has
been set as the final deadline for receiving price offers from participants in this tender. The Iraqi Oil Marketing Company (SOMO) is seeking bids linked to global benchmark oil pricing indicators. In a related development concerning the energy sector, Iraqi Oil
Minister Basem Mohammed Khudair stated yesterday, Tuesday, that the total quantities of oil exported during last August neared seventy million barrels. He pointed out that the country currently exports over three million barrels of crude oil daily. Khudair also revealed
the ministry's ambitious plans to achieve self-sufficiency in gasoline. The minister affirmed that oil transport contracts via the Turkish port of Ceyhan played a significant role in increasing export levels by approximately six hundred thousand barrels per day. Concluding his
statements, Khudair noted that strengthening export capacity faced considerable challenges due to current regional conditions.
