Woodside Energy Kickstarts Oil Marketing for Sangomar Project

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The project operators will sell oil from Sangomar on a free-on-board basis with the minimum load or sale transaction comprising 950,000 barrels of crude oil. Loads will be conducted at the project’s terminal which has the ability to host Suezmax tankers and very large crude carrier ships, according to Soh.

The similarity of oil from Sangomar to Oman’s crude has the potential to draw buyers from Asia while the energy crisis in Europe has the potential to drive European buyers into purchase agreements with Woodside Energy.

Furthermore, the recent pledge by members of the Petroleum Exporting Countries to extend output cuts through 2024, which has caused a rise in global energy prices, will likely help Woodside Energy secure buyers as countries and consumers seek alternative energy to reduce high prices.

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Onur Yilmaz

Onur Yilmaz

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