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Market Chatter: TotalEnergies Offers Iraqi Crude to Asian Buyers

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French energy major TotalEnergies (TTE) is offering cargoes of Iraqi crude, which it can collect from the Gulf and deliver to customers in Asia, including South Korea, Taiwan, and China, Bloomberg reported Friday, citing traders.

The company is reportedly marketing Basrah Medium and Basrah Heavy on a delivered basis, and has been seeking supertankers that can transport two million barrels of crude, for arrival from July onward.

The move could help accelerate shipping of Iraqi barrels as traffic picks up through the Strait of Hormuz, the report said. Iraq's state oil marketer, Somo, also offered Iraqi crude at deeply discounted rates, but only on a loaded basis.

TotalEnergies did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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