Iraq Announces Urgent Tender for Heavy Oil Sale Off Oman Coast

Iraq has initiated a tender for the sale of two million barrels of Basra Heavy crude oil, to be delivered via ship-to-ship transfer off the Omani coast, outside the Strait of Hormuz. Last Thursday was set as the final deadline for submitting bids in the tender. The consignment is offered on a Free on Board (FOB) basis, with a loading period specified between September 27 and 30. The State Oil Marketing Organization (SOMO) is seeking offers linked to benchmark oil pricing indicators. Meanwhile, Iraqi Oil Minister Bassem Mohammed Khudair announced on Tuesday that the total quantity of oil exported during last August reached approximately 70 million barrels. Khudair affirmed that Iraq currently exports over 3 million barrels of oil per day, noting the ministry's plans to achieve self-sufficiency in gasoline. The minister added that oil transport contracts through Turkey's Ceyhan port contributed to increasing daily export volumes to 600,000 barrels, explaining that enhancing export capacity faced significant challenges due to the prevailing situation in the region.