Egypt issues tender to swap Qarun crude oil for Iraqi Basra Light

Egypt's state-owned Egyptian General Petroleum Corp has issued a tender to swap a 435,000-450,000 barrel cargo of its Qarun crude oil grade for a similar-sized cargo of Iraqi Basra Light for August delivery, a tender document showed.

The tender closes on July 14 with offers remaining valid until July 21.

The tender specifies that the delivery will take place through storage-tank transfer at its oil hub Sidi Kerir on August 16.