Iraq: 2 Million Barrels of Crude Oil Transported Outside the Strait of Hormuz

Al-Taj News – The Iraqi Oil Tanker Company announced Saturday that it had transported 2 million barrels of Iraqi crude oil aboard a Very Large Crude Carrier (VLCC) tanker to outside the Strait of Hormuz, while confirming that it is working to purchase and own specialized tankers for transporting crude oil, according to the Iraqi News Agency.

The company’s Director General, Ali Qais, said that “the company, based on the directives of the Prime Minister and under the direct supervision of the Minister of Oil, was tasked, for the first time in decades, with transporting quantities of produced crude oil and crossing with them to outside the Strait of Hormuz, in a step that shifts part of the Iraqi oil sales operations from delivery at the Port of Basra to transporting it outside the strait.”

He added that “the company held several discussions with specialized companies and managed, for the first time, to secure a Very Large Crude Carrier (VLCC) tanker, which was loaded with 2 million barrels of crude oil and transported them outside the strait, allowing the State Oil Marketing Organization to benefit from better sales and pricing opportunities.”

He continued that “there are ongoing directives to hold discussions with the relevant authorities and find suitable opportunities, as quickly as possible, to purchase and own specialized tankers for transporting crude oil,” stressing that “the goal is to develop the capabilities of the Iraqi Oil Tanker Company in a way that enables it to compete with similar companies in the region.”