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.
United Finance Company: Strategically Serving Oman’s Auto Market with Faster, Customer-First Solutions
Al-Iktisaad, May 25
St. Petersburg prepares to showcase its best at SPIEF 2025
WUJHA Development: Investing in People and Place
Golf Hills – A New Chapter in Premium Living in Oman
Tawoos Group acquires NMC Oman
HH Sayyid Bilarab bin Haitham Al Said graces the opening of Oman Design & Build Week
Oman LNG Signs LNG Optimisation Agreement with Vitol Asia
Jindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
SPIEF 2025 to see participation from over 92 countries
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
Renewables are booming, but not fast enough to cap greenhouse emissions
Retail Abu Dhabi’s ‘Unbox Amazing’ generates sales of more than AED 2 billion in participating stores
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
H.E. Salim Al Aufi, Minister of Energy & Minerals talks about Oman’s Green Hydrogen Goals
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
OQ Gas Networks S.A.O.G Announces Intention To Float on the Muscat Stock Exchange
-
Automotive2 months agoSouth Korea Plans to Support Auto Sector with US$2B Following US Tariffs
-
News2 months agoOman Oil Prices Witness Drop Amid Shifting Global Trade Dynamics
-
OER Magazines1 month agoOER, April 25
-
News2 months agoAligning HR Strategies with Oman Vision 2040: A Roadmap for Organisational Growth – OER Business Summit 2025
-
Renewables2 weeks agoJindal Renewables and OQ Alternative Energy Sign Joint Development Agreement to Advance Integrated Renewable Power Projects in Oman
-
Alamaliktistaad Magazines1 month agoAl-Iktisaad, April 25
-
Banking & Finance2 months agoBank Nizwa Signs MoU with Ministry of Endowments and Religious Affairs to Enhance Endowment Management & Islamic Finance Frameworks
-
Banking & Finance2 months agoSohar International Bank SAOG Announces Intention to Merge with Ahli Bank SAOG
You must be logged in to post a comment Login