Iraq's SOMO and QatarEnergy Issue Tenders for Crude Shipments via Hormuz

Iraq's national oil marketer SOMO and QatarEnergy on Monday issued rare tenders to sell crude oil for loading by buyers from within the Strait of Hormuz, according to trade sources. SOMO offered its Basra Medium and Basra Heavy crude grades for loading in September, either from Iraq's Basra Oil Terminal or via a single-point mooring and associated facilities, sources familiar with the Middle East crude market told Reuters. This development follows Tehran's grant of permission on Saturday for several Iraqi oil tankers to pass through the Strait of Hormuz, responding to repeated requests from Baghdad through various channels, as reported by Iran's official news agency (IRNA). Bidding for the Iraqi crude is set to close on August 26. Additionally, QatarEnergy offered Al-Shaheen, Qatar Marine, and Qatar Land crude grades for loading in September and October, with delivery on a free-on-board (FOB) basis from their respective loading ports in Qatar, the same sources indicated. The Qatari tender will remain open until August 25.