Eco
Iraq's State Organization for Marketing of Oil (SOMO) launched a tender on Thursday to sell Basra crude for September loadings, to be loaded from outside the Strait of Hormuz. This marks the second tender issued by the company this week, according to a document and informed trade sources. The trade sources indicated that this tender permits oil shipments to be loaded via ship-to-ship transfers near the Omani coast, with bids closing on August 28. SOMO had previously offered a tender on Monday for shipments loaded from its oil terminal in Basra, which required buyers to charter tankers to enter the Strait of Hormuz. That initial tender closed on Wednesday.
