The Iraqi Oil Tankers Company said it has “transported two million barrels of Iraqi crude oil” on a giant tanker to “outside the Strait of Hormuz”.
The company described the operation as the first “of its kind in decades”.
Iraq: Transporting Two Million Barrels of Crude Oil Outside the Strait of Hormuz
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This announcement means that the company is transporting crude oil through the strait instead of delivering it at the port of Basra, giving the Iraqi State Marketing Organization (SOMO) more flexibility in determining how and where to sell the crude.
Ali Qais Abdul-Jabbar, the Director General of the Iraqi Oil Tankers Company, said in a statement that this step aims to give SOMO “more flexibility in sales operations and take advantage of better pricing opportunities”.
He added that the Iraqi Oil Tankers Company is also “buying and owning specialized tankers to transport crude oil to enhance its capabilities, develop its fleet, and compete with similar maritime transport companies in the region”.
Earlier, Iraq obtained permission from Iran to cross tankers carrying Iraqi oil through the Strait of Hormuz, which the Islamic Republic effectively closed during its war with the United States.
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