11/10/2026
IRAQI BASRAH MEDIUM CRUDE OIL — FOB BASRA | LOI + VESSEL DETAILS REQUIRED
SHUTAFUT invites qualified end buyers, refineries and established crude oil trading companies to submit official inquiries for a potential supply of Iraqi Basrah Medium Crude Oil.
Preliminary Transaction Parameters
Product: Basrah Medium Crude Oil
Origin: Iraq
Loading basis: FOB Basra
Indicative initial quantity: From 2,000,000 barrels, subject to confirmation
Contracting: Proposed direct contract with SOMO, subject to official verification and buyer eligibility
Pricing: Based on the applicable official pricing formula, subject to confirmation
Loading schedule: Potentially within less than one month after completion of the required approvals, contract and banking arrangements; subject to confirmation
Required Initial Submission
Interested buyers must provide:
Official LOI on company letterhead, signed by an authorised representative.
Full legal company name, registration number, registered address, country of incorporation and corporate contact details.
Required quantity, spot or contract requirements, and preferred loading schedule.
Vessel details and K88 documentation. If the vessel has not yet been finally nominated, please state its expected nomination timeline and availability of the required particulars.
Company registration documents and a corporate profile.
Proposed payment instrument and confirmation of the buyer’s ability to meet the seller’s banking requirements, subject to the official procedure.
Indicative Procedure, Subject to Official Confirmation
Submission of the LOI, vessel particulars and company documents.
Preliminary review and approval through the relevant official channels.
Ex*****on of applicable rights-protection agreements.
Formal buyer submission and further approval.
Proposed 1% performance guarantee in favour of SOMO, subject to confirmation of the official terms and beneficiary.
Final contract, LC issuance, loading schedule and shipment.
The proposed LC validity, guarantee requirements, loading schedule and all other terms must be confirmed in the official transaction documents before the buyer makes any financial commitment.
Important: This is a preliminary opportunity, not a firm offer. Allocation, seller authority, price, procedure and availability are subject to independent verification through official channels. No guarantee or LC should be issued solely on the basis of intermediary communications.
LOI submissions:
Ivan Zavirov | SHUTAFUT
Email: [email protected]
Website: www.shutafut.com.ua
WhatsApp: 067 160 5226
