TotalEnergies Offers Millions of Barrels of Iraqi Crude to Asian Buyers

TotalEnergies is offering millions of barrels of Iraq’s Basrah Medium and Basrah Heavy crudes for prompt delivery to Asia this month and next, traders who had received some of these offers told Bloomberg on Friday.

Iraq, one of the Persian Gulf producers most hit by the closure of the Strait of Hormuz, has been offering crude on the spot market with deep discounts and only on a loading basis, which means buyers need to secure empty tankers to move inbound into the Gulf via the Strait of Hormuz.