Iraq seeks premium for Sept oil loading outside Hormuz, document shows
XLE•Iraq sets floor prices for Basrah Medium tender
Iraq has set floor prices for its Basrah Medium oil offered via a tender for loading in September from outside the Strait of Hormuz, a tender document reviewed by Reuters showed on Tuesday.
Iraq's national oil company SOMO is asking participants in its tender, issued last month, for a premium over the destination market benchmark, the document shows, and a trade source confirmed.
Premiums set for early and late September loadings
For September 1 to 10 lifting SOMO is asking for a minimum premium of 20 cents per barrel over the destination market benchmark, and for September 11 to 30 loading cargoes a floor of $3 per barrel premium has been set, the document shows.
Participants have to place revised offers within a day, the trade source said.
Iran permits some Iraqi tankers to pass through Hormuz
Iran’s state news agency IRNA reported last month that Tehran has granted permission for a number of Iraqi oil tankers to pass through the Strait of Hormuz following repeated requests from Baghdad through various channels.
