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Several Chinese and Indian oil refineries are seeking vessels to transport discounted Iraqi crude through the Strait of Hormuz from Iraq’s Basra Oil Terminal, according to multiple shipping-industry sources cited by Reuters. The effort was reported this week, but no vessel charter agreement has yet been finalized because of security risks in the strait.

The sources said Iraq’s state oil marketing company SOMO is offering discounts of up to about $30 per barrel on Basra Heavy and Basra Medium crude for August delivery. The large price reductions are driving refinery interest in purchasing the Iraqi oil.

Shipowners are reluctant to send vessels through the Strait of Hormuz because of concerns about security conditions. Kpler data showed that only six crude oil tankers exited the strait this week, while 21 vessels entered it, most using Iranian waterways. Iran closed the strait when the US-Israel war began on February 28. Before that closure, an average of 130 to 140 ships used the important sea route each day.

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Amar Desh 07 Aug 26

ইরাকের তেল কিনতে আগ্রহী চীন-ভারত | আমার দেশ

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