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07/11/2025 01:53 AST
Iraq's state-owned oil company SOMO has offered more than 6 million metric tons of high-sulphur fuel oil (HSFO) between January and June 2026 in three tenders of varying volumes, according to market sources and documents seen by Reuters.
The tenders are expected to add more volumes to the global fuel oil supply balance, while capping Asia price differentials which have already been hovering in discounts since early October.
In one of the tenders, SOMO offered about 855,000 metric tons of fuel oil produced at the Karbala refinery for loading from the Khor al-Zubair and Um Qasir terminals between January and June.
About 142,500 tons of the fuel will be lifted per month in the tender that will close on November 26, with bids remaining valid for up to 20 days, according to the tender notice.
In the other two tenders, SOMO offered straight-run HSFO for loading in the first half of 2026, to be lifted from the Khor al-Zubair terminal or Fujairah terminal, market sources said.
These included 1.54 million tons of higher-sodium HSFO produced from the Basrah refinery, as well as 3.76 million tons of lower-sodium HSFO produced from other refineries, they said.
Both tenders will close on November 16, with bids remaining valid for up to 20 days.
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07/11/2025
Nasdaq Dubai has welcomed the listing of a $500 million debut Green Sukuk by Binghatti Holding Limited, one of Dubai's fastest growing property developers.
Issued under Binghatti's $1.5 bill
Trade Arabia
06/11/2025
Saudi Arabia's flagship entrepreneurship event, Biban Forum 2025, opened in Riyadh on Wednesday, drawing tens of thousands of investors, innovators, and business leaders from around the world as the
Arab News
05/11/2025
Abu Dhabi-based artificial intelligence (AI) company AIQ has entered the Indonesian market through a strategic agreement with SKK Migas, Indonesia's Special Task Force for Upstream Oil and Gas Busine
Gulfnews
| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 65.07 | 0.35 | 0.54 |
| WTI | 60.89 | 0.6 | 1 |
| OPEC Basket | 66.46 | 1.22 | 1.87 |
05/11/2025
Oil fell for a second day after an industry report indicated the biggest increase in US inventories in more than three months.
West Texas Intermediate held above $60, while Brent settled a
Bloomberg
04/11/2025
The eight OPEC+ countries that previously announced additional voluntary adjustments in April and November 2023 - namely Saudi Arabia, Russia, Iraq, the UAE, as well as Kuwait, Kazakhstan, Algeria, a
Arab News
03/11/2025
OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in the first quarter of next year as the producers' group moderates plans to regain market share due to rising
Khaleej Times
29/10/2025
Oil prices slipped about 2% on Tuesday and were on track for a third straight day of declines as investors considered the impact of U.S. sanctions against Russia's two biggest oil companies on global
Reuters
28/10/2025
Oil prices eased slightly on Monday as OPEC's plans to increase oil output once again outweighed hopes of a trade deal framework between the U.S. and China and renewed U.S. sanctions on Russia.
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