Iraq’s state oil marketing company has offered hefty discounts for August loading of Basra crude cargoes in order to encourage buyers to load from within the Strait of Hormuz. A document reviewed by Reuters shows this offer.

Based on the document, SOMO has asked contracted buyers to declare their contracted volumes for two main grades of Basra crude. The proposed discounts range from $25 to nearly $30 per barrel, depending on the type of oil and the loading date.

Despite attacks by the IRGC on ships in the Strait of Hormuz, the giant tanker “Nobel,” which had loaded Basra crude on August 24 (3 Mordaad), left the strait on Friday and is heading to China.

PetroChina has also tentatively chartered the giant tanker “Jamaica Prosperity” to transport a cargo from the Persian Gulf region to China. Loading is expected to take place around July 24 (12 Mordaad) at the Port of Basra.

The Islamic Republic, in coordination with China, allows the smooth passage of tankers and Chinese cargoes. China had previously been the Islamic Republic’s largest oil buyer.