GCC
September Basrah Heavy Cargo sold at OSP +$1.37 on DME Auctions
Dubai Mercantile Exchange hosted its latest auction on Wednesday, on behalf of Iraq’s National Oil Company, SOMO.
The 2-million barrel cargo of Basrah Heavy was awarded at a premium of $1.37 per barrel over the September Basrah Heavy Official Selling Price (OSP). 28 companies logged into the auction with 17 active bidders and more than 25 bids during the two-minute auction. Over 50 companies have now registered with DME to access SOMO auctions.
SOMO has sold a total of 10 million barrels of crude oil via DME Auctions since April of this year. In June, a Basrah Heavy cargo for August loading was auctioned at a premium of $1.18 per barrel. The stronger premium for the September-loading cargo reflects the anticipated tighter market for heavy crude oil later in the year, with OPEC cuts expected to reduce availability in the spot market.
Panasonic, OMASCO Mark 50-year Partnership with Launch of new EU-Series AC Designed for Oman Market
ANALYSIS: Oman’s Public Debt Declines as Fiscal Pressures Shift in Q2 2025
Meetings Conclude Discussion on Detailed Budget Estimates for Fiscal Year 2026
Ooredoo Wins Silver Stevie® Award for Diversity and Inclusion Excellence
UFC & Gargash GAC Motor Oman Announce Strategic Partnership — “Buy Now, Pay in 2026” Offer to Ease Back-to-School Financial Pressures
Liva Insurance Partners with Muscat Bikers Club to Offer Exclusive Insurance Benefits and Lifestyle Rewards
OERLive Leaderspeak: Bader Al Lawati – Framing Life Through Lenses, Landscapes, and Leadership
National Finance Solidifies Market Position with Robust Performance in H1 2025
St. Petersburg International Economic Forum 2026 to be held from 3–6 June
Najla Zuhair Al Jamali Appointed President of bp Oman
Power And Beyond: The Path To A Low-carbon Future
Time to Buy Saudi Stocks? Some Investors Look at Dubai Instead
Al Mouj Muscat unveils Ghadeer Villas
Retail Abu Dhabi’s ‘Unbox Amazing’ generates sales of more than AED 2 billion in participating stores
Renewables are booming, but not fast enough to cap greenhouse emissions
Hospitality Industry in Oman Estimated 90% Growth in 2022
Saudis Sign Deals From Energy to Metals in Bid to Salvage Forum
Saudi Arabia’s Gold Miner Plans to Be a Global Top-20 Supplier
Technology to drive Sultanate’s downstream industry
Digitization and Logistics Service Providers Can Help SMEs Make the Most of Peak Season Retail Trends
VIDEO: Robert MacLean on how NHI is Shaping Oman’s Next Generation of Hospitality Leaders
The Future of Oman: Decoding The Sultanate of Oman’s Strategic Promotional Nation Brand
EXCLUSIVE: AI, Robotics & Wearable Sensors are Changing the Lives of Dementia Patients
EXCLUSIVE: Talking Renewable Projects & Sustainability in Oman and Beyond with Vipul Tuli
VIDEO: Eng. Salim Al Thuhli, CEO, Khazaen Economic City on Investment Opportunities
H.E. Salim Al Aufi, Minister of Energy & Minerals talks about Oman’s Green Hydrogen Goals
VIDEO: Talking Latest Developments in Aircraft Ground Guidance & More at Oman Airports
VIDEO: Dr. Firas Al-Abduwani Discusses Green Hydrogen, Potential Regions for Development & Creating a Green Ecosystem
VIDEO: Discussing The Future of Green Hydrogen in Oman with H.E. Salim Al Aufi
Celebrating Infoline’s Remarkable 20-Year Journey
-
Banking & Finance2 months agoOman Arab Bank Announces Increase of Authorised Capital to RO500mn and Paid‑In Capital Boost of RO50mn
-
Bahrain2 months agoSPIEF 2025 focused on global and regional economic processes, market transformation, new tech, investment climate, financial policy and people
-
Banking & Finance1 month agoNational Finance Reinforces Position as Partner for Growth, Offers a Comprehensive Product Suite to Support Customer Ambitions
-
OER Magazines2 months agoOER, June 25
-
Energy2 months agoRussian Energy Week from October 15-17, 2025 offers alternative formats of cooperation
-
Alamaliktistaad Magazines2 months agoAl-Iktisaad, June 25
-
Technology2 months agoSPIEF 2025 showcases cutting-edge technologies and digital innovation through its Innovation Space initiative
-
Energy2 months agoThe year 2025 is a special year for Oman and Russia as it marks 40 years of diplomatic relations between the two countries says HE Sergey Tsivilyov, Energy Minister of Russia
You must be logged in to post a comment Login