Iraq's SOMO opens second Basra crude tender with ship-to-ship loading off Oman

TEHRAN, Iran — Iraq's State Oil Marketing Organization (SOMO) has launched a second tender to sell Basra crude cargoes for September loading, this time using ship-to-ship transfers off the coast of Oman rather than loading at Basra's oil terminal. The move differs from SOMO's first tender, which called for loading at the terminal and transit through the Strait of Hormuz. According to SOMO documents and trade sources, the second tender will close on August 28. The first tender closed a day earlier. The decision to offer an alternative loading method comes amid concerns that shipments through the strait could be disrupted by developments in the region. The Strait of Hormuz is a key passage for Gulf oil exports. Iran's state news agency reported on Saturday that Tehran had allowed several Iraqi oil tankers to transit the strait following repeated Baghdad requests through various channels.