Reuters _ Trade sources stated on Wednesday that QatarEnergy has issued a tender to sell Al-Shaheen crude, with lifting to be conducted via ship-to-ship transfer outside the Strait of Hormuz in early December.
The sources added that the company also offered volumes of this crude for sale on a Free on Board (FOB) basis in Qatar for the period from mid-November to late November.
The deadline to receive bids ends today, Wednesday, according to the sources.
QatarEnergy's semi-annual profits dropped by about 70% during the first half of the current year, reaching QAR 15.1 billion as a result of declining production and exports due to the war in the region.
These developments were reflected in Qatar's exports of liquefied natural gas (LNG), which declined by about 90% between April and the end of September compared to the same period last year, prompting customers in Asia and Europe to seek alternative supplies.
The pressures were not limited to profits, as the company's total borrowings rose to QAR 81.7 billion, compared to QAR 51.3 billion at the end of last year, an increase of nearly 59%.
