Iraq Exports 2 Million Barrels of Crude Oil Beyond Strait of Hormuz
According to the International Desk of Webangah News Agency, Iraq’s oil tanker company announced on Saturday that it has completed the historic transfer of two million barrels of the country’s crude oil outside the Strait of Hormuz, utilizing a colossal tanker for the first time in several decades.
Ali Qais, Director-General of the Iraqi Oil Tanker Company, stated in an interview with the official Iraqi News Agency (WAA) that following directives from the Prime Minister and under the direct supervision of the Minister of Oil, the company was entrusted with the mission of exporting Iraqi crude oil beyond the Strait of Hormuz for the first time in decades.
He added that this action represents a transition in Iraq’s oil sales process, moving from delivering cargo at the port of Basra to transporting oil beyond the Strait of Hormuz.
The Director-General of the Iraqi Oil Tanker Company further explained that after conducting multiple rounds of negotiations with specialized companies, the firm succeeded in securing a very large crude carrier (VLCC) for the first time.
According to Qais, “This tanker was loaded with two million barrels of crude oil and transported beyond the Strait of Hormuz, an action that will enable the Iraqi oil marketing company to leverage better opportunities for sales and pricing.”
Qais also emphasized ongoing directives to negotiate with relevant parties and identify suitable opportunities in the shortest possible timeframe, confirming that the acquisition of specialized crude oil tankers is a priority.
He concluded by stating that the objective of these initiatives is to develop the capabilities of the Iraqi Oil Tanker Company to enable it to compete with similar companies in the region.
