Iraq’s state-owned Oil Tankers Company has said it exported two million barrels of crude oil through the Strait of Hormuz using a very large crude carrier.
Reuters reported early Sunday, October 4, that instead of delivering the crude at the port of Basra, the company is transporting it through the Strait of Hormuz, giving Iraq’s State Organization for Marketing of Oil (SOMO) greater flexibility over how and where to sell the crude.
According to the report, Ali Qais Abdul Jabbar, chief executive of the company, said in a statement that the move could allow SOMO to take advantage of better sales and pricing opportunities.
Iraq had previously obtained Iran’s permission for Iraqi oil tankers to pass through the Strait of Hormuz.
However, tensions between Iran and the United States over control of the Strait of Hormuz have severely disrupted oil exports through the waterway.
