Now Reading: QatarEnergy issues tender to ship crude bypassing Strait of Hormuz
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QatarEnergy issues tender to ship crude bypassing Strait of Hormuz
QatarEnergy issues tender to ship crude bypassing Strait of Hormuz
QatarEnergy has issued a second tender this week to sell al-Shaheen and Qatar Marine crude via ship-to-ship transfers outside the Strait of Hormuz, according to three trade sources and a tender document.…
QatarEnergy has issued a second tender this week to sell al-Shaheen and Qatar Marine crude via ship-to-ship transfers outside the Strait of Hormuz, according to three trade sources and a tender document. The crude will be discharged for the first half of October.
The tender requires bids by 12:00 p.m. Doha time (0900 GMT) on Wednesday. In a previous tender, QatarEnergy offered al-Shaheen, Qatar Marine and Qatar Land crude for loading in September and October on a free-on-board basis at their respective loading ports in Qatar.
Indian Opinion Analysis
The Strait of Hormuz is a chokepoint for about a fifth of global oil supply. By using ship-to-ship transfers outside it, QatarEnergy can keep deliveries running even if the Strait is disrupted, a contingency that has gained urgency after Iran seized tankers in 2023. The tender covers al-Shaheen and Qatar Marine grades, which are medium-sour crudes favoured by Asian refiners. Whether buyers bid at a premium or discount against the Oman/Dubai benchmark will signal how markets price the security of bypassing Hormuz. The bid deadline is 12:00 p.m. Doha time on Wednesday.
Source: thehindubusinessline.com
This brief was synthesised by AI from the source linked above.
